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Brazil Inflation April 2023

Brazil: Inflation declines to lowest level in over two years in April

Inflation came in at 4.2% in April, which was down from March’s 4.7%. April’s reading represented the lowest inflation rate since October 2020, although it still remained above the Central Bank’s 2.5% target. Looking at the details of the release, the moderation was primarily due to falling prices for transportation. In addition, price pressures for food and beverages eased. Moreover, prices for clothing grew at a more subdued pace.

Accordingly, the trend pointed down, with annual average inflation coming in at 7.2% in April (March: 7.9%).

Finally, consumer prices increased a seasonally adjusted 0.61% in April over the previous month, below the 0.71% increase seen in March. April’s result marked the softest rise in prices since January.

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