Brazil: Inflation edges down in February

Consumer prices in February rose 0.32% over the previous month, above January’s 0.29% rise. February’s reading matched analysts’ forecast. Higher prices were mainly recorded for education.

Inflation came in at 2.8% in February, slightly below January’s 2.9%. Prices pressures are at a historic low in the country and below the Central Bank’s target of 4.5% plus or minus 1.5 percentage points. Annual average inflation fell to 3.1% in February, from 3.3% in January.

Brazil Inflation Forecast

Panelists participating in the LatinFocus Consensus Forecast see inflation closing 2018 at 4.0%, which is unchanged from last month’s forecast. For 2019, the panel expects inflation of 4.1%.