Brazil Inflation December 2018

Brazil

Brazil: Inflation ends 2018 below target

January 4, 2019

Consumer prices rose 0.15% in December over the previous month, contrasting November’s 0.21% drop. The rebound was largely due to higher prices for food and beverages, and smaller drags from falling prices for housing and transportation.

Inflation ended 2018 at 3.7%, at the lower end of the Central Bank’s target of 4.5% plus or minus 1.5 percentage points (2017: +2.9% end of period). Although inflation rose overall in 2018, a solid performance by the real in recent months, cuts in government-controlled prices and economic slack is limiting price pressures. Inflation averaged 3.7% in 2018, up slightly from 2017’s 3.5%.

Panelists participating in the LatinFocus Consensus Forecast see inflation closing 2019 at 4.3%, which is unchanged from last month’s forecast. For 2020, the panel expects inflation of 4.2%.


Author: Angela Bouzanis, Lead Economist

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Brazil Inflation Chart


Brazil Inflation December 2018

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


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