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São Paulo: Brazil's October IPCA-15 rises just 0.32%, below forecasts, adding a twist before the presidential runoff
Brazil's statistics agency IBGE reported on Oct 23: October IPCA-15 rose 0.32% month-on-month, below economists' 0.43% forecast (prior 0.70%); the 12-month rate was 4.62%, also below the expected 4.73%; food and beverages (+0.88%) were the biggest driver. The data lands two days before the Oct 25 presidential runoff, with the central bank meeting Nov 3–4.
Why it matters
The cooling came at a decisive moment: Brazil's presidential runoff is two days away (Oct 25, Lula vs. Flávio Bolsonaro), and voters' wallets swing ballots; the print also gives the central bank, meeting Nov 3–4, one more reason to cut rates.
A 0.32% monthly rise is less than half of September's 0.70%, signaling genuine easing of Brazil's inflation pressure rather than statistical noise.
Full report
Brazil's national statistics institute (IBGE) published the IPCA-15 consumer price index on Oct 23: October rose 0.32% month-on-month (Reuters, São Paulo), below economists' 0.43% forecast, versus 0.70% previously.
The 12-month rate stood at 4.62%, also under the expected 4.73%. Food and beverages rose 0.88%, the single biggest contributor to the index.
The timing is sensitive: Brazil holds its presidential runoff on Oct 25 (Lula vs. Flávio Bolsonaro), making this the last major economic indicator before the vote; the central bank meets Nov 3–4, and market bets on a rate cut may now heat up.
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