Brazil: Inflation hits almost twelve-year high in March
April 8, 2015
Consumer prices in March increased 1.32% over the previous month. The print was above the 1.22% increase recorded in February, but undershot market expectations of a 1.39% rise. The result was driven largely by an increase in the price for electricity, after a price hike was announced last month.
Headline inflation rose from 7.7% in February to 8.1% in February, which marked the highest level since December 2003. As a result, inflation is now further above the Central Bank’s tolerance margin of plus/minus 2.0 percentage points around 4.5%.