Brazil: Inflation inches up in October
Consumer prices rose 0.45% in October over the previous month, which followed September’s 0.48% increase and was below market expectations of a 0.55% rise. A softer increase in transportation prices drove October’s moderation, while food prices grew at a faster rate in October.
Inflation rose to 4.6% in October from 4.5% in September. Inflation is within the Central Bank’s target of 4.5% plus or minus 1.5 percentage points, although October’s reading marked the highest inflation rate since March 2017. Price pressures are likely to ease somewhat going forward as cuts in government-controlled prices come into effect in November.
Annual average inflation rose from 3.3% in September to 3.5% in October.