Brazil Inflation


Brazil: Inflation hits over nine-year high in February

March 6, 2015

Consumer prices in February increased 1.22% over the previous month. The print was below the 1.24% increase recorded in January, but surpassed market expectations of a 0.85% rise. The result was driven partly by increases in the prices for transportation and education, which were partly offset by a decline in clothing.

Annual headline inflation rose from January’s 7.1% to 7.7% in February, which marked the highest level since May 2005. As a result, inflation is now further above the Central Bank’s tolerance margin of plus/minus 2.0 percentage points around 4.5%.

LatinFocus Consensus Forecast participants see inflation closing 2015 at 7.0%, which is unchanged from last month’s forecast. For 2016, the panel expects inflation of 5.6%.

Author: Angela Bouzanis, Senior Economist

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Brazil Inflation Chart

Brazil Inflation February 2015

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

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