Weekly Report - 16 January 2020 (WR-20-02)

BRAZIL | Meat prices drive higher-than-expected inflation. On 10 January, Brazil’s national statistics institute (Ibge) released the latest data for the national consumer price index (IPCA) which showed that inflation closed the year 2019 at 4.31%. This is above the target of 4.25% inflation set by the central bank (BCB), although it remains within the target range of +/-1.5%.