Itaú BBA - IPCA-15 rose 0.13% in August, slightly above the median of market estimates

Macro Brazil

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IPCA-15 rose 0.13% in August, slightly above the median of market estimates

agosto 23, 2018

Our preliminary forecast for the headline IPCA in August is -0.02%

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

The mid-month consumer price index IPCA-15 rose 0.13% in August, close to our estimate (0.12%) and slightly above the median of market expectations (0.10%). The index increased 0.64% in July and 0.35% in August 2017. Year-to-date inflation reached 3.14%, while the year-over-year change decelerated to 4.30% from 4.53% in the previous month. Housing (0.17 p.p.) provided the largest upward contribution during the month, led by electricity tariffs. On the other hand, transportation (-0.16 p.p.) gave the biggest negative contribution, following price cuts for fuels and airfares. Our preliminary forecast for the headline IPCA in August is -0.02%, with the year-over-year rate receding to 4.3% from 4.5%.

 

Elson Teles
Economist


 

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



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