Brazil Inflation October 2020

Brazil

Brazil: Inflation hits eight-month high in October

November 6, 2020

Consumer prices rose a seasonally-adjusted 0.86% over the previous month in October, which was below September’s 0.64% increase and marked the sharpest increase in prices since December 2019. Looking at the details of the release, transport prices rose at a faster clip in October compared to the previous month, while price pressures for health and personal care goods also gained steam.

Inflation rose to 3.9% in October, above September’s 3.1%. October's figure marked the highest inflation rate since February. Moreover, the trend pointed up mildly, with annual average inflation coming in at 3.1% in October (September:3.0%).

Panelists participating in the LatinFocus Consensus Forecast see inflation closing 2020 at 2.3%, which is up 0.4 percentage points from last month’s forecast. For 2021, the panel projects inflation of 3.2%, which is unchanged from last month’s forecast.


Author:, Economist

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Brazil Inflation October 20 20

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


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