LatAm Daily | Higher fuel prices to drive inflation up further in Brazil

Summary

Gasoline and diesel prices were unexpectedly adjusted by 6% and 4%, respectively, following the negative impact on Petrobras of a weaker exchange rate. We expect this adjustment to have a +0.25pp impact on domestic prices and therefore we revise our inflation forecast for 2015 up to 9.5%. Today, economic indicators will be released for Chile and Colombia.

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