Monetary Authority President Roberto Campos Neto said on Tuesday (24) that inflation dynamics continue to worry the Central Bank, highlighting that the country’s drought is generating concern about food prices.
At an event organized by J. Safra in São Paulo, Campos Neto stressed that the places most affected by drought are precisely those most responsible for food production.
In the charts shown in his presentation, the BC President noted that both the full IPCA and core inflation measures were above target in the most recent releases and that services inflation continues to play an important role in inflationary dynamics at the current stage.
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The mayor also said there was still “no absolute certainty” regarding the impact of the labor shortage on Brazilian inflation. “Growth remains strong and broad-based, with an emphasis on cyclical components,” reads an excerpt from Campos Neto’s presentation.
(With Reuters)
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