LatinNews Daily - 28 October 2025

*Brazil’s central bank (BCB) has released the latest edition of its Focus bulletin, a weekly survey containing the economic projections of private sector economists and analysts, which showed an annual inflation forecast of 4.56% for this year, down from the 4.70% forecast in the previous week’s bulletin. This decrease of 0.14 percentage points is a greater drop than usual. The inflation projections in the Focus bulletins have mostly remained unchanged or decreased by a few percentage points every week for the past several months. The latest weekly decrease is the second greatest drop in 2025 so far, following a decrease of 0.19 percentage points in mid-June, from 5.44% to 5.25%. Despite the lowering forecasts, Brazil’s annual inflation rate is currently still above the upper limit of the BCB’s target range of 3.0% +/-1.5. Annual inflation in the 12 months through September 2025 stood at 5.17%. On 24 October the national statistics institute (Ibge) also released the latest mid-month inflation figures, which showed that the annual inflation rate in mid-October was 4.94%. This is down from 5.32% in the 12 months through mid-September.

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