Gasoline, Groceries, and Gabriel Galípolo: Why Brazil’s Inflation Rebound Raises the Stakes for March

2026-02-10 - 19:35

Key Points Brazil’s consumer prices rose 4.44% year-on-year in January, ticking up from 4.26% in December but staying just below the central bank’s 4.5% tolerance ceiling — a reading that supports a rate cut but muddies its size. Central bank governor Gabriel Galípolo used words like “calibration” and “parsimony” on Monday, boosting market bets that