Brazil Ex-Post Real Interest Rates (12-Month CDI - 12-Month Inflation)

This dashboard tracks Brazil’s ex-post real interest rate by subtracting 12-month IPCA inflation from the 12-month growth in the CDI benchmark rate. The result approximates the realized real short-rate backdrop in Brazil over the past year, showing whether nominal rates have outpaced inflation or fallen behind it. Recession shading is included to provide business-cycle context for changes in real rates. Data is updated as new CDI and IPCA releases become available and is presented with historical context to highlight tightening and easing regimes. Use it to monitor Brazil’s real monetary stance and implications for the Selic path, local rates, BRL and risk assets.