Good morning! Today, fresh inflation data. Petrobras’s move toward green energy. And the tax reform report.
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Inflation continues to cool down
Brazilian consumer prices rose 0.23 percent in May, according to data released minutes ago by the Brazilian Institute of Geography and Statistics. Again, the official inflation index came in below market expectations â the median forecast stood at 0.33 percent.
- At 3.94 percent, the inflation rate over 12 months is getting closer to the government’s target of 3.25 percent.
Why it matters. Inflation has decelerated in each of the past 11 months, raising expectations that the Central Bank may cut interest rates early in the second half of the year.Â
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