Brazil: Inflation accelerates in January
February 9, 2015
Consumer prices in January increased 1.24% over the previous month, which marked the largest increase since February 2003. The print was above the 0.78% increase recorded in December, but matched market expectations. The result was driven largely by notable rises in the prices for transportation and housing, as well as for food and beverages.
Annual headline inflation rose from December’s 6.4% to 7.1% in January, which marked the highest level since September 2011. As a result, inflation is now above the Central Bank’s tolerance margin of plus/minus 2.0 percentage points around 4.5%.