Recent reports are out that Brazil is slowing down, with both GDP & inflation reports going lower than expected.
According to the Brazilian Institute of Geography and Statistics (ISGE):
The Extended Consumer Price Index-15 (IPCA-15) changed 0.46% in November, slightly above the rate of October (0.42%). As a result, the accumulated indicator in the year stayed at 5.96%, above the rate of the same period a year ago (5.07%). Considering the last 12 months, the index was at 6.69%, below the immediately previous 12 months (7.12%). In November of 2010, the rate was of 0.86%.
The complete publication of IPCA-15 can be accessed at http://www.ibge.gov.br/english/estatistica/indicadores/precos/ipca15/defaultipca15.shtm
Ministry of Finance estimates GDP growth of 0.3%, or 1.2% annualized for the third quarter. Full report available at http://www.fazenda.gov.br/audio/2011/novembro/a231111.asp [Portuguese]. Expect the official release on 6 December 2011.