Good morning! Today, we talk about Brazil’s fresh inflation numbers. Lula’s trip to China. The government’s next 100 days. And a risk for banks.
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Breaking: Inflation slows down
The Brazilian Institute of Geography and Statistics has released a fresh inflation reading. Prices rose 0.71 percent in March, below market expectations. Over a 12-month period, the inflation rate has fallen to 4.65 percent (from 5.6 percent in February).
- Fuel prices were a major inflation driver, after the government ended tax breaks enacted by the previous administration.
- Twelve-month food inflation, which was in the double digits until January, has also slowed. Over the past year, food prices have risen by 7.29 percent.
Lula goes to China
President Luiz Inácio Lula da Silva has left Brazil for China. The visit was originally scheduled for late March, but Lula was grounded by influenza and pneumonia. The Brazilian government has described the trip as the “rebirth” of Brazil-China relations, which were fraught during the four years of Jair Bolsonaro.
Schedule. The president will attend the inauguration...