Brazil: Inflation declines to 17-month low in September
Inflation came in at 7.2% in September, down from August’s 8.7%. September’s figure marked the lowest inflation rate since April 2021 and the third consecutive month of easing inflation. Despite the sharp moderation, September’s rate remained well above the Central Bank’s 3.5% target for 2022. Looking at the details of the release, prices for transportation increased at a more moderate rate in September, and prices for food and beverages grew at a softer pace as well. Lastly, housing prices also rose at a slower pace.
Consequently, the trend pointed down in September; Annual average inflation fell to 10.4%, down from August’s 10.7%.
Lastly, consumer prices dropped a seasonally adjusted 0.29% in September over the previous month, a more moderate decrease than the 0.36% drop recorded in August. September’s result marked the third consecutive month of declining prices.