Latin America Publications
Below is a list of our Latin America Publications for the last 5 months. If you are looking for reports older than 5 months please email info@pantheonmacro.com, or contact your account rep
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Chartbook Datanotes Weekly Monitor Andrés Abadía (Chief LatAm Economist)
- In one line: Food and utilities keep inflation elevated.
- In one line: Inflation improves, but the balance of risks remains hawkish.
- Food and electricity prices pushed inflation higher in Brazil, limiting room for further monetary easing…
- …Inflation expectations are still rising, as weather and geopolitical risks threaten further inflation pressures.
- Softer inflation supports a rate pause in Peru, but risks increasingly point away from further easing.
- In one line: Inflation eased in May, but persistent services inflation will keep Banxico cautious.
- Industrial output in Brazil enters Q2 solidly, supported by commodities and resilient demand.
- Manufacturing and capital goods continue to lag, highlighting weak capex and high real rates.
- Persistent inflation and tariff risks threaten to prolong industry’s uneven recovery in H2.
LATAM’S DISINFLATION STORY IS BREAKING DOWN
- OIL, POLITICS AND FISCAL RISKS KEEP CENTRAL BANKS ON ALERT
- Broad-based Q1 growth highlights resilient domestic demand in Brazil, despite a high Selic rate.
- Fiscal and credit support are cushioning activity, though underlying capex is less convincing.
- Persistent inflation pressures will likely keep the BCB cautious and slow the easing cycle.
- In one line: Inflation pressures remained broad-based in May.
- In one line: Retail sales remain resilient, but momentum still looks soft.
- Retail sales remain resilient in Mexico, though discretionary demand looks uneven and selective.
- Banxico’s latest communication strongly suggests the easing cycle has now ended.
- Restrictive real rates likely will continue to curb credit and discretionary spending in H2.
- In one line: External weakness and mining dragged GDP lower in Q1.
- In one line: Activity softened at the end of Q1.
- In one line: Inflation persistence is becoming harder for the BCRP to dismiss.
- Durable goods and targeted credit programmes continue to cushion consumption in Brazil.
- Food inflation and softer essential spending point to growing pressure on household purchasing power.
- Fiscal and quasi-fiscal stimulus support near-term activity but complicate the disinflation process.
- Manufacturing continues to drag on activity in Mexico, due to weak demand and capex.
- Construction volatility and the uneven execution of public investments are limiting a broader recovery.
- Mining and AI-linked exports offer partial support, but industry still points to subdued growth in H2.
- Food, fuel and services inflation in Brazil continue to rise, complicating the COPOM’s easing.
- Extractive industries and autos are supporting activity, while manufacturing and capex remain weak.
- Higher oil prices and still-elevated real rates are exposing the fragile composition of growth.
- Services inflation and labour-cost indexation are driving higher inflation in Colombia.
- Food and weather shocks add pressure, but excess demand increasingly dominates the outlook.
- BanRep likely will continue to hike, as persistent inflation will require more action ahead.
- In one line: Inflation jumped on fuel prices, but underlying pressures remained contained.
- In one line: Industrial activity continues to recover, but momentum remains fragile.
- In one line: Banxico cuts rates, likely ending the easing cycle.
