Itaú BBA - Itaú Inflationary Surprise Index - Inflation continues surprising to the downside in LatAm

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Itaú Inflationary Surprise Index - Inflation continues surprising to the downside in LatAm

June 6, 2018

The main downward contributions in the month came from the price dynamics in Brazil and Mexico

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

Our Itaú Inflationary Surprise Index marginally increased to -0.28 in May, from -0.31 in April. The main downward contributions in the month came from the price dynamics in Brazil and Mexico, while the surprises in Chile, Colombia and Peru were roughly balanced. The decline in the Mexican component in the month reflected downward surprises in the official consumer price indexes (both CPI and May’s bi-weekly CPI). Similarly, in Brazil official price index posted descending variations – notably May’s IPCA-15 and April’s IPCA. Peru and Chile contributed with modest downward surprises, as the first registered a strong disinflation and the second, a modest increase in the official price index. Colombia’s contribution was null in the month.

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



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