FGV: El Niño to Keep Brazil Food Inflation Elevated Through Year-End

FGV Ibre coordinator André Braz stated that El Niño's impact on food prices will sustain upward pressure on Brazilian inflation until year-end. The first October preview of the IGP-M rose 0.58%, with the IPA (60% weight) up 0.67%, indicating persistent producer-level price pressures. This signals potential upside risk to Brazil's inflation trajectory and may influence central bank policy expectations.