LatAm Trading Catalysts: Inflation in BZ, AR (& US); Peru vote count; Metals & Mining Conference; Inter day

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LatAm Trading Catalysts: Inflation in BZ, AR (& US); Peru vote count; Metals & Mining Conference; Inter day

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LatAm Trading Catalysts

Inflation in BZ, AR (& US); Peru vote count;

Metals & Mining Conference; Inter day

Investment Strategy

Economics: inflation in BZ & AR, rates decision in PE 10 May 2026

Focus this week is on April inflation in Brazil (Tue). We forecast a 0.74% mom increase, Investment Strategy

driven by resilient food inflation (milk, meat, tubers) and healthcare items. Argentina also Latin America

releases April inflation (Thu). In Peru, we expect BanRep to hold rates at 4.25% (Thu). In Equity Strategy/Economics

Mexico, industrial production (Tue) could continue decelerating. Colombia releases 1Q26 Paula Andrea Soto, CFA >>

GDP (Fri). In the US, CPI (Tue) is in the spotlight (see report: CPI preview) after our team LatAm Equity Strategist Merrill Lynch (Brazil)

recently revised Fed call to no cuts this year, from two (see report: Federal Reserve). +55 11 2188 4226

paula.soto@bofa.com

>>Eq. Strategy: Weaker foreign flows reaching LatAm DavidBz Econ/FIBeker& LatAm EQ Strategy

LatAm underperformed EM last week. Strong performance in EM was mainly driven by Merrill Lynch (Brazil)

tech in Taiwan and S. Korea. Softer EM inflows have been a key driver behind LatAm's +55david.beker@bofa.com11 2188 4371

recent underperformance. Last week, EM (ex-China) saw US$2.3bn in outflows. In Brazil, Carlos Capistran

foreign inflows also softened, with R$14.7bn in cash outflows from B3 since mid‑April. LatAm and Canada Economist

BofAS

+1 646 743 2921

carlos.capistran@bofa.comEarnings season: Petrobras, BTG, Nu & more

Many companies report in Brazil and Colombia this week, while a few report in Chile, Mateus Conceicao >>

LatAm Equity Strategist