Happy Friday! Two years ago tomorrow, the largest case of corporate fraud in Brazilian history was revealed, when retail giant Americanas announced “accounting inconsistencies” to the tune of BRL 21.7 billion (and a bankruptcy protection case with short-term liabilities of almost BRL 43 billion). Police inquiries into the case are still ongoing, and no one has been held criminally responsible.
Inflation closes year above target, but lower than expected
Up by double digits, fuel prices are often an easy shorthand for the broader economic scenario. Photo: Hans Elmo/Shutterstock
Consumer prices ticked down slightly on an annual basis in December, the latest piece of evidence that Brazil’s fight against inflation is not over.
Driving the news. Data published minutes ago by the Brazilian Institute of Geography and Statistics shows that the IPCA, the country's preferred inflation gauge, climbed 4.83% in 2024 — above the government’s target tolerance band (1.5%-4.5%) but below market expectations as surveyed by Reuters and the Central Bank.
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