Good morning! Today, we talk about yet another swap at Petrobras, a makeover in the House, and political and legal defeats by two former presidential hopefuls.
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🚨 Breaking: Brazil’s IPCA-15 consumer price index — a mid-month inflation measurement that is a reliable predictor of the official rate — came in at 0.59 percent, showing a deceleration from April (1.73 percent) thanks to a decrease in energy prices.
- Still, the mid-month index came in well above the 0.45 percent expected by markets. In 12 months, the IPCA-15 is up by 12.2 percent.
Rising fuel prices leave another Petrobras CEO jobless
The Mines and Energy Ministry announced last night that the government will appoint a new Petrobras chief executive officer— the fourth since President Jair Bolsonaro took office and the third already this year.
Context. As is the case in many parts of the world, fuels have become much more expensive in Brazil since the pandemic began — and even more so after the Russian invasion of Ukraine.
- Since the week of March...