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%.