Itaú BBA - IPCA-15 rises 0.06% in June and year-over-year change recedes to 3.84%

Macro Brazil

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IPCA-15 rises 0.06% in June and year-over-year change recedes to 3.84%

June 25, 2019

Deflation in food prices took the spotlight, with price drops for food consumed at home (-0.82%) and away from home (-0.33%).

For the version with all charts and tables, please open the attached pdf file.

 The mid-month consumer price index IPCA-15 rose 0.06% in June, in line with our estimate. Deflation in food prices took the spotlight, with price drops for food consumed at home (-0.82%) and away from home (-0.33%). The IPCA-15 is up 3.84% yoy and 2.33% in 1H19.  

 After the release of today's report, we revised slightly our estimate for the headline IPCA in June to -0.01%. We maintain our forecasts for July and August at 0.23% and 0.06%, respectively. We also maintain our full-year forecasts at 3.6% for both 2019 and 2020.


Julia P. Araujo



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