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LatinNews Daily - 23 September 2020

In brief: Brazil’s central bank expects consumer inflation to rise in the short term

* Brazil’s central bank (BCB) has released the complete minutes from last week’s meeting of its monetary policy committee (Copom), which note that inflation is expected to remain below target for the foreseeable future. Brazil’s official inflation target range for 2020 is 4% +/-1.5, but annual inflation in August came in at 2.44%, and according to projections in the BCB’s latest market survey, inflation is expected to close the year at 1.9%. However, the Copom has noted that it expects inflation for consumers to rise in the short term, due to a temporary increase in the price of food and the normalisation of the prices of certain services, as economic activity pick up after the paralysation brought about by the coronavirus (Covid-19) pandemic.

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