Brazil Inflation October 2018

Brazil

Brazil: Inflation inches up in October

November 7, 2018

Consumer prices rose 0.45% in October over the previous month, which followed September’s 0.48% increase and was below market expectations of a 0.55% rise. A softer increase in transportation prices drove October’s moderation, while food prices grew at a faster rate in October.

Inflation rose to 4.6% in October from 4.5% in September. Inflation is within the Central Bank’s target of 4.5% plus or minus 1.5 percentage points, although October’s reading marked the highest inflation rate since March 2017. Price pressures are likely to ease somewhat going forward as cuts in government-controlled prices come into effect in November.

Annual average inflation rose from 3.3% in September to 3.5% in October.

Panelists participating in the LatinFocus Consensus Forecast see inflation closing 2019 at 4.3%, which is unchanged from last month’s forecast. For 2020, the panel expects inflation of 4.2%.


Author: Angela Bouzanis, Lead Economist

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Brazil Inflation October 2018

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


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