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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Haim R. Branisteanu who wrote (44415)	12/29/2008 8:55:39 AM
From: elmatador	Read Replies (1) \| Respond to of 217548

Brazil Prices Fall More Than Expected in December led by a drop in wholesale food and manufacturing-component prices. Brazil Prices Fall More Than Expected in December By Joshua Goodman Dec. 29 (Bloomberg) -- Brazil’s broadest measure of inflation fell more than expected in December, led by a drop in wholesale food and manufacturing-component prices. Consumer, construction and wholesale prices, as measured by the IGP-M price index, fell 0.13 percent in December. That was more than all but one estimate in a Bloomberg survey of 13 analysts, whose median forecast was for a 0.05 percent decline. It was the biggest monthly drop since a 0.32 percent decrease in August and compares with a 0.38 percent increase last month, the Rio de Janeiro-based Getulio Vargas Foundation said today. Brazil’s slowing economy is damping inflationary pressures that are being stoked by a 30 percent slide in the local currency since September, the biggest drop among the 16 most-traded currencies against the dollar. Central Bank President Henrique Meirelles told President Luiz Inacio Lula da Silva that policy makers will cut the country’s benchmark interest rate in January, Folha de S. Paulo reported yesterday, without saying where it got the information. The so-called Selic rate is expected to end 2009 at 12 percent, down from a current two-year high of 13.75 percent, according a Dec. 26 central bank survey of 100 economists. To contact the reporter on this story: Joshua Goodman in Rio de Janeiro jgoodman19@bloomberg.net