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This report provides a summary of May 2026 inflation and central bank policy developments for Argentina, Brazil, and Peru. It notes persistent regional inflationary pressures, particularly in service sectors.

Key Takeaways

• 1.Argentina's May inflation came in at 2.1% mom, below Bloomberg consensus, with headline annual inflation reaching 33.2%.
• 2.Brazil's May IPCA inflation printed at 0.58%, above consensus, with persistent pressures in service sector and regulated prices.
• 3.Peru's central bank held the policy rate at 4.25%, maintaining a data-dependent stance and viewing inflation drivers as transitory supply shocks.

Table of Contents

• ARGENTINA
• DETAILS:
• BRAZIL
• DETAILS:
• PERU
• DETAILS:
• Disclosure Appendix