Brazil inflation rate up in mid-May, holds below target range [Reuters]
JP Morgan Chase & Co. (JPM)
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Source: Reuters
Brazil inflation rate up in mid-May, holds below target range | Reuters 3 Min Read BRASILIA (Reuters) - Brazil’s inflation rate likely accelerated slightly in mid-May but held below the official target range as a slow economic recovery continued to hamper the central bank’s efforts to reignite price hikes, a Reuters poll of economists showed. Consumer prices tracked by the benchmark IPCA index probably rose 2.81 percent from the year before, according to the median of 22 estimates compiled by Reuters. BRIPCY=ECI That is slightly higher than the 2.76 percent rate seen at the end of April, but nearly matches the mid-April 2.80 percent reading. Inflation has held below the bottom end of this year’s official target range, of 4.5 percent plus or minus 1.5 percentage points, for nearly all of 2018. None of the respondents forecast it would rise back to the range in mid-May, with the highest estimate at 2.90 percent. The findings should increase investors’ focus on the minutes of the bank’s
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