Skip to main content

Brazil IPCA (May 2024)

The rise in inflation in Brazil to 3.9% y/y in May and, more importantly, the re-acceleration in underlying core services inflation means we no longer expect a rate cut at the Copom meeting next week. And given that inflation is set to rise further, the labour market remains strong and that inflation expectations are inching up, it now looks most likely that the Selic rate will remain at 10.50% until year end.

Become a client to read more

This is premium content that requires an active Capital Economics subscription to view.

Already have an account?

You may already have access to this premium content as part of a paid subscription.

Sign in to read the content in full or get details of how you can access it

Register for free

Sign up for a free account to gain:

  • Unlock additional content
  • Register for Capital Economics events
  • Receive email updates and economist-curated newsletters
  • Request a free trial of our services

Get access