Brazil Inflation


Brazil: Inflation continues to climb in May

June 10, 2015

Consumer prices in May increased 0.74% over the previous month. The print was above the 0.71% increase recorded in April and overshot market expectations of a 0.59% rise. The result was driven largely by faster increases in the price of food and beverages as well as electricity compared to the previous month.

Headline inflation rose from 8.2% in April to 8.5% in May. May’s result marked the highest inflation level since December 2003. As a result, inflation remains far above the Central Bank’s tolerance margin of plus/minus 2.0 percentage points around 4.5%.

LatinFocus Consensus Forecast participants see inflation closing 2015 at 7.8%, which is up 0.3 percentage points from last month’s forecast. For 2016, the panel expects inflation of 5.6%.

Author: Angela Bouzanis, Senior Economist

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Brazil Inflation Chart

Brazil Inflation May 2015

Note: Annual and monthly var. of IPCA consumer price index in %.
Source: Brazilian Institute of Geography and Statistics (IBGE).

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