LatAm Daily | Inflation in March in Brazil and Chile evolved below expectations

Summary

In Brazil annual inflation declined to 9.39% (0.46% MoM); we expect convergence to 6.8% by the end of 2016 and to 4.5% by the end of 2017. CPI in Chile increased 0.4% MoM (4.5% YoY) in March; at tomorrow’s MP meeting we expect a pause in rates and the beginning of a more dovish tone. Also, today we expect a negative monthly growth rate for industrial production in Mexico.

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