Brazil: Inflation falls to over one-year low in November
Inflation dropped to 5.9% in November from Octobers 6.5%. November’s figure marked the lowest inflation rate since February 2021, and the fifth consecutive month of easing inflation. Despite the continued moderation, Novembers rate remained above the Central Banks 3.5% target for 2022. Looking at the details of the release, the reading was driven by falling prices for transportation and easing price pressures for housing and utilities.
Accordingly, the trend pointed down, with annual average inflation coming in at 9.7% in November (October: 10.1%).
Finally, consumer prices rose a seasonally adjusted 0.41% in November over the previous month, slowing down from the 0.59% rise seen in October.