economic environment
historical series 
| Brazil | 2021 | 2022 | 2023 F¹ | 2024 F¹ |
| GDP | 5.0% | 2.9% | 2.9% | 1.8% |
| interest rate – SELIC | 9.25% | 13.75% | 11.75% | 9.50% |
| inflation – Broad Consumer Price Index (IPCA) | 10.1% | 5.8% | 4.6% | 4.0% |
| foreign exchange rate – USD/BRL | 5.57 | 5.28 | 5.00 | 5.25 |
| unemployment rate (average for the year) | 13.2% | 9.3% | 8.0% | 8.0% |
Note: foreign exchange rate and interest rate for December of every year.
¹Itaú BBA’s forecast.
| Chile | 2021 | 2022 | 2023 F¹ | 2024 F¹ |
| GDP | 11.7% | 2.4% | -0.3% | 1.5% |
| interest rate | 4.00% | 11.25% | 8.50% | 5.75% |
| inflation – Consumer Price index (IPC) | 7.2% | 12.8% | 4.1% | 3.1% |
| foreing xchange rate – USD/CLP | 851 | 851 | 880 | 850 |
| unemployment rate (average for the years) | 8.9% | 7.9% | 8.8% | 8,5% |
Note: foreign exchange rate and interest rate for December of every year.
¹Itaú BBA’s forecast.
| Colombia | 2021 | 2022 | 2023 F¹ | 2024 F¹ |
| GLP | 10.7% | 7.3% | 1.0% | 1.4% |
| interest rate | 3.00% | 12.00% | 13.25% | 8.00% |
| inflation – Consumer Price index (IPC) | 5.6% | 13.1% | 9.5% | 5.0% |
| foreing exchange rate – USD/COP | 4070.00 | 4800.00 | 4100.00 | 4250.00 |
| unemployment rate (average for the year) | 13.7% | 11.2% | 11.5% | 11,6% |
Note: foreign exchange rate and interest rate for December of every year.
¹Itaú BBA’s forecast.
| Argentina | 2021 | 2022 | 2023 F¹ | 2024 F¹ |
| GDP | 10.7% | 5.0% | -3.0% | -2.5% |
| interest rate – BADLAR | 34.1% | 69.0% | 140.0% | 105.0% |
| inflation – Consumer Price Index (IPC) | 50.9% | 94.8% | 200.0% | 150.0% |
| foreign exchange rate – USD/ARS | 102.80 | 177.00 | 670.00 | 1550.00 |
| unemployment rate (average for the year) | 8.8% | 6.8% | 8.0% | 8.5% |
Note: foreign exchange rate and interest rate for December of every year.
¹Itaú BBA’s forecast.
| Peru | 2021 | 2022 | 2023 F¹ | 2024 F¹ |
| GDP | 13.5% | 2.7% | 0.2% | 3.0% |
| interest rate | 2.50% | 7.50% | 6.75% | 5.00% |
| inflation – Consumer Price Index (IPC) | 6.4% | 8.5% | 3.8% | 2.8% |
| foreign exchange rate – USD/PEN | 4.00 | 3.81 | 3.80 | 3.80 |
| unemployment rate (average for the year) | 10.9% | 7.7% | 8.0% | 7.9% |
Note: foreign exchange rate and interest rate for December of every year.
¹Itaú BBA’s forecast.
| World | 2021 | 2022 | 2023 F¹ | 2024 F¹ |
| GDP – World | 6.3% | 3.4% | 3.0% | 2.9% |
| GDP – US | 5.8% | 1.9% | 2.5% | 1.5% |
| GDP – Euro Zone | 5.6% | 3.4% | 0.4% | 0,5% |
| GDP – China | 8.1% | 3.0% | 5.3% | 4.3% |
¹Itaú BBA’s forecast.
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Economic Prospects Report – November 2023
Daily Economic Activity Tracker – IDAT
