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Brazil Inflation November 2023

Brazil: Inflation drops to three-month low in November

Inflation came in at 4.7% in November, which was down from October’s 4.8%. November’s result represented the lowest inflation rate since August. Looking at the details of the release, prices for transportation rose at a more moderate rate in November. In addition, housing price growth softened. Meanwhile, prices for food and beverages were mostly steady from the previous month’s reading.

Accordingly, the trend pointed down mildly, with annual average inflation coming in at 4.7% in November (October: 4.8%).

Lastly, consumer prices increased a seasonally adjusted 0.28% in November over the previous month, broadly stable from the 0.24% increase logged in October. November’s figure marked the highest reading since April.

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