Brazil Inflation


Brazil: Inflation reaches 11-month high in May

June 9, 2014

Consumer prices rose 0.46% in May over the previous month. The print was below the 0.67% increase recorded in April although it came in above market expectations of a 0.38% rise. Eight of the nine categories registered price increases in May, with the strongest increases tallied in household items and health care services. Transports was the only category that registered a monthly drop in prices.

Annual headline inflation inched up from 6.3% in April to 6.4% in May, marking the highest inflation rate since June 2013. Inflation is still within the Central Bank’s tolerance margin of plus/minus 2.0 percentage points around its target of 4.5%.

The Central Bank sees inflation at 5.6% at the end of 2014. For 2015, the Bank sees inflation closing the year at 5.4%. LatinFocus Consensus Forecast participants see inflation closing 2014 at 6.4%, which is up 0.2 percentage points from last month’s forecast. For 2015, the panel sees inflation at 6.0%.


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Brazil Inflation Chart

Brazil Inflation May 2014 0

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

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