Effects of rains in Rio Grande do Sul lose strength in inflation and activity data – 07/12
With the June data, the current inflation trajectory is more positive, although underlying services remain high. In economic activity, the effect of donations more than compensates for declines in trade in Rio Grande do Sul. Internationally, more constructive U.S. inflation data increase the likelihood of Fed Funds cuts as early as September.
For more information, please check our Weekly Report 72.
