Brazil Inflation


Brazil: Inflation ends 2012 within the Central Bank's target range

January 10, 2013

In December, consumer prices increased 0.79% over the previous month, which was above both the 0.60% rise recorded in November and market expectations of a 0.74% price increase. The result mainly reflected higher prices for food and beverages.

As a result of the monthly price rise, annual headline inflation nudged up from 5.5% in November to 5.8% in December, thereby ending 2012 within the Central Bank's target of 4.5% with a tolerance margin of plus/minus 2.0 percentage points. Moreover, the figure was lower than the 6.5% registered at the end of 2011.

The Central Bank expects inflation to moderate further to 4.8% by the end of 2013 and to rise to 4.9% by the end of 2014, according to its Inflation Report from December 2012.


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Brazil Inflation Chart

Brazil Inflation December 2012

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

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