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☆ Brazil's consumer prices forecast to have risen faster in Sept.- Reuters poll
▼ + stars: | 2023-10-10 | by ( Gabriel Burin | ) www.reuters.com time to read: +2 min

A man pays a vendor at a fruit stand, at a supply centre (CEASA) in Brasilia, Brazil May 9, 2023. REUTERS/Adriano Machado/File Photo Acquire Licensing RightsOct 10 (Reuters) - Brazil's consumer prices likely rose faster in September, led by hikes in gasoline costs that should have brought annual inflation to the highest rate in seven months, a Reuters poll of economists showed. While it is expected to decelerate again, risks are increasingly tilted to the upside from the potential impact of the El Niño weather pattern on agricultural output which has been abundant so far this year. Brazilian state-run company Petrobras (PETR4.SA) has been raising fuel prices following movements in international oil markets in recent weeks. Higher oil prices and weather risks, combined with worries over Brazil's fiscal issues and steeper U.S. yields, have kept inflation expectations at undesirable levels, slightly above official goals.

Persons: Adriano Machado, decelerate, Yan Barros, Niño, Gabriel Burin, Andrew Cawthorne Organizations: REUTERS, Ace Capital, Petrobras, PETR4, Banco, Brasil, Thomson Locations: Brasilia, Brazil, El, Brazilian, Israel, Australia, India, Brazil's

☆ Brazilian consumer prices seen virtually flat in July vs June
▼ + stars: | 2023-08-09 | by ( Gabriel Burin | ) www.reuters.com time to read: +3 min

A customer looks at the prices at a supermarket in Rio de Janeiro, Brazil, May 6, 2016. "Moreover, services and core services indexes also improved... although they will continue to be considerably above the inflation target," the analysts noted. Brazil is enjoying benign food inflation trends resulting from a record-breaking crop that may be repeated next season, provided the country's vast production of grains and oilseeds is spared from the impact of the El Nino climatic pattern. Apart from helping to open a window for much awaited interest rate cuts, stable food prices facilitate President Luiz Inacio Lula da Silva's government initiative to raise fuel taxes again in a bid to strengthen Brazil's public accounts. Reporting and polling by Gabriel Burin; Editing by Ross Finley and Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

Persons: Nacho Doce, Luiz Inacio Lula da Silva's, Gabriel Burin, Ross Finley, Jan Harvey Organizations: REUTERS, Santander, El, Thomson Locations: Rio de Janeiro, Brazil

☆ Brazil inflation down by more than expected in month to mid-July
▼ + stars: | 2023-07-25 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, July 25 (Reuters) - Consumer prices in Brazil fell by more than expected in the month to mid-July, data from statistics agency IBGE showed on Tuesday, as markets brace for an interest rate cut when the central bank monetary policy committee meets next week. In Latin America's largest economy, the IPCA-15 consumer price index fell 0.07% in the period, down from 0.04% in the previous month and below the 0.01% drop expected by economists polled by Reuters. That took 12-month inflation in the country to 3.19%, while economists had projected it to come in at 3.26%. The annual figure remains below the central bank's inflation target of 3.25% for this year, although an uptick is expected from this month because of unfavorable base effects. IBGE said the deflation in the month to mid-July was mainly driven by lower housing and food and beverage costs, whose declines were partially offset by an increase in transportation prices.

Persons: IBGE, Gabriel Araujo, Steven Grattan Organizations: SAO PAULO, IBGE, Reuters, Thomson Locations: Brazil

☆ Brazil inflation slows down as c.bank foresees August rate cut
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +1 min

In Latin America's largest economy, 12-month inflation reached 3.40% in mid-June, data from statistics agency IBGE showed on Tuesday, slightly above market expectations of 3.36% but still the lowest since September 2020. The latest figure, showing a deceleration from 4.07% in May, comes as the local central bank said that a majority of its monetary policy committee sees a rate cut in August as possible if the ongoing disinflation process continues. Brazil's IPCA-15 consumer price index, IBGE data showed, rose 0.04% in the month to mid-June, down from 0.51% in the previous month. The index had been expected to fall 0.01%, according to the median forecast in a Reuters poll. Reporting by Gabriel Araujo; Editing by Steven GrattanOur Standards: The Thomson Reuters Trust Principles.

Persons: Luiz Inacio Lula da Silva, Roberto Campos Neto, Brazil's, Gabriel Araujo, Steven Grattan Organizations: SAO PAULO, IBGE, Thomson Locations: Brazil

☆ Indian shares set for muted start to week after Russia turmoil
▼ + stars: | 2023-06-26 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, June 26 (Reuters) - Indian shares were set for a muted open on Monday, on the heels of their first weekly loss in over a month, as crude prices rose on supply concerns after a short-lived mutiny by mercenaries in Russia. Foreign institutional investors sold a net 3.45 billion rupees ($42.1 million) worth of Indian equities on Friday, while domestic investors sold 6.84 billion rupees of shares, as per provisional NSE data. STOCKS TO WATCH:** ICICI Bank (ICBK.NS), ICICI Securities (ICCI.NS): Boards of the companies to consider delisting of ICICI Securities shares on June 29. ** HDFC Life Insurance Company: India's insurance regulator granted approval for transfer of its shares from HDFC Ltd (HDFC.NS) to HDFC Bank (HDBK.NS). ** Shree Cement (SHCM.NS): NDTV reported that tax evasion to the tune of 230 billion rupees ($2.80 billion) has been found in tax searches at multiple locations of Shree Cement in Rajasthan.

Persons: Wagner, Brent, Chris Thomas, Biplob Kumar Das, Eileen Soreng Organizations: Singapore Exchange, BSE, ICICI Bank, ICICI Securities, Life Insurance, HDFC Ltd, HDFC Bank, Ipca, U.S, FDA, of Maharashtra, Axis Bank, Kashmir Bank, NDTV, Shree, Thomson Locations: BENGALURU, Russia, Russian, Moscow, Asia, India, Pithampur, Jammu, Kashmir, Shree Cement, Rajasthan, Bengaluru

The country's IPCA-15 inflation index eased to a 30-month low of 4.16% from 5.36% in the previous month, government statistics agency IBGE said on Wednesday, coming in below market consensus of 4.20% in a Reuters poll of economists. The latest data comes a day after central bank Governor Roberto Campos Neto ruled out an imminent interest rate cut, saying in a Senate hearing that the current rate was appropriate to address inflation concerns. "Will RCN and his team wait for current inflation to reach 3% before starting to cut interest rates?" William Jackson, Capital Economics' chief emerging markets economist, said he doubts policymakers will pivot to interest rate cuts imminently, considering that core inflation remains strong and the central bank has been striking a hawkish tone. "All told, the inflation picture continues to improve in Brazil," Pantheon Macroeconomics' chief Latin America economist Andres Abadia said.

☆ Brazil inflation seen staying high in March on rising gasoline costs
▼ + stars: | 2023-04-10 | by ( Gabriel Burin | ) www.reuters.com time to read: +2 min

April 10 (Reuters) - Brazil's inflation likely stayed high in March on rising gasoline bills, reigniting cost of living problems in the country's stagnant economy and probably stoking more disagreement over policy, a Reuters poll showed. Consumer prices cooled in the second half of 2022 in reaction to an aggressive tightening campaign by the central bank. But inflation pressures reemerged after President Luiz Inacio Lula da Silva took office at the start of this year. This would stand very close to the 0.84% rate in February, which had been the quickest in 10 months. A 0.77% inflation rate in March would result in a cumulative 2.2% clip in the first quarter, well on course to surpass this year's goal of 3.25% with a margin of 1.5 percentage points.

☆ Brazil's 2022 inflation slows sharply, misses government target
▼ + stars: | 2023-01-10 | by ( Marcela Ayres | ) www.reuters.com time to read: +3 min

Central bank chief Roberto Campos Neto is legally required to publish a letter justifying the inflation target miss. It will be released on Tuesday, according to the central bank. That will give the central bank "more cause to delay the start of its easing cycle," Jackson said. According to IBGE, inflation last year was mainly impacted by the increased costs of food and beverages (+11.64%) and health and personal care items (+11.43%). State-run oil giant Petrobras (PETR4.SA) contributed to the disinflationary trend, adopting a series of price cuts when international oil prices settled.

☆ Consumer prices in Brazil down for the third month on lower fuel costs
▼ + stars: | 2022-10-11 | by ( ) www.reuters.com time to read: +2 min

Prices are displayed at a market in Rio de Janeiro, Brazil, September 2, 2021. The benchmark IPCA index (BRCPI=ECI) fell 0.29% last month, IBGE said, a smaller drop than the 0.34% forecast by economists polled by Reuters and slowing down from the 0.36% fall seen in the previous month. The transportation sector once again led consumer prices down in Brazil in September, posting a 1.98% drop, while food and beverage prices fell for the first time since November 2021, IBGE said. Reuters GraphicsIn the 12 months through September, inflation reached 7.17%, down from 8.73% in the previous month though slightly above the 7.1% forecast. "But with some goods and services inflation still rising, and the headline rate far above target, a shift towards interest rate cuts remains a long way off," he added.

☆ Brazil's inflation extends downtrend in mid-September on lower fuel prices
▼ + stars: | 2022-09-27 | by ( Gabriel Araujo | ) www.reuters.com time to read: +3 min

Inflation in the 12 months to mid-September hit 7.96%, well below the 8.14% forecast by economists, likely backing the central bank's recent decision of pausing its aggressive rate hiking cycle. Adding to energy state tax cuts announced earlier this year, oil giant Petroleo Brasileiro SA reduced refinery gate gasoline prices twice since mid-August, leading to lower prices at the pump. The inflation drop in September, however, was not widespread as prices fell in only three of the nine groups of products and services surveyed, IBGE said - communication, food and beverages, and transportation. The latest inflation data comes as Brazil's central bank last week chose to keep interest rates unchanged at 13.75%, pausing an aggressive tightening after 12 consecutive increases aimed at curbing high inflation. William Jackson, chief emerging markets economist at Capital Economics, said the inflation figures confirmed that the monetary tightening cycle was over.

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