Brazil and the Battle for Hearts and Minds on the Inflation Front
The following article deals with the topic “The Future of Central Banking: Inflation Targeting vs. Financial Stability,” which will be discussed at the Global Economic Symposium in Rio this October. The author intends to enrich the discussion at the symposium with his personal stories and ideas.
Even after nearly two decades since the inception of Plano Real and the end of the nightmare of hyperinflation combined with successive currency devaluations and redenominations, Brazil is still a country obsessed with price indexes. Rarely a day goes by without the release of a fresh inflation gauge: IPC-FIPE, IPCA, INPC, IGP-M, IGP-DI, IGP-10 . . . . The myriad of acronyms can be mind-boggling to foreign observers, but any good Brazilian economist can accurately explain the differences in terms of weights, levels of income and time frames covered.
Mais
Even after nearly two decades since the inception of Plano Real and the end of the nightmare of hyperinflation combined with successive currency devaluations and redenominations, Brazil is still a country obsessed with price indexes. Rarely a day goes by without the release of a fresh inflation gauge: IPC-FIPE, IPCA, INPC, IGP-M, IGP-DI, IGP-10 . . . . The myriad of acronyms can be mind-boggling to foreign observers, but any good Brazilian economist can accurately explain the differences in terms of weights, levels of income and time frames covered.
Mais
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