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Brazil Inflation February 2023

Brazil: Inflation falls to lowest level in two years in February

Inflation resumed its downward trend in February, coming in at 5.6%, down from January’s 5.8%. February’s figure marked the lowest inflation rate in two years, but still remained above the Central Bank’s 3.5% target. Looking at the details of the release, February’s moderation was chiefly due to price pressures for food and beverages easing. This more than offset prices for housing and utilities rising at a brisker pace.

Accordingly, the trend pointed down, with annual average inflation coming in at 8.5% in February (January: 8.9%).

Lastly, consumer prices increased a seasonally adjusted 0.84% in February over the previous month, picking up from January’s 0.53% rise. February’s result marked the highest reading since April 2022.

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