Brazil Inflation January 2018

Brazil

Brazil: Inflation hovers at historically low level in January

February 7, 2018

Consumer prices in January rose 0.29% over the previous month, below December’s 0.44% rise. January’s reading undershot analysts’ forecast of a 0.41% rise. Cheaper prices for electricity were largely behind the drop as heavy rains have boosted power generation and allowed the government to cut rates.

Inflation came in at 2.9% in January, matching December’s result. Prices pressures are at a historic low in the country and below the Central Bank’s target of 4.5% plus or minus 1.5 percentage points. Annual average inflation fell to 3.3% in January, from 3.5% in December.

Panelists participating in the LatinFocus Consensus Forecast see inflation closing 2018 at 4.0%, which is unchanged from last month’s forecast. For 2019, the panel expects inflation of 4.1%.


Author: Angela Bouzanis, Senior Economist

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Brazil Inflation Chart


Brazil Inflation January 2018

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


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