Brazil | Inflation moderates as pressure from administered prices ease

Summary

Annual inflation reached 8.17% YoY in April, broadly unchanged in comparison to the previous reading (8.11% YoY). However, in monthly terms inflation declined to 0.71% MoM, after three months within the 1.2 MoM% - 1.4% MoM range. We expect annual inflation to remain around 8.0% YoY and monthly figures to continue to slowdown in the next few months.

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