Brazil Inflation November 2021


Brazil: Inflation remains elevated in November

December 10, 2021

Consumer prices increased a seasonally-adjusted 0.95% from the previous month in November, which was below the 1.25% rise seen in October but nonetheless marked the 18th month of rising prices. Looking at the details of the release, prices for food and beverages dropped after growing in the previous month, while clothing and textile price growth softened. In contrast, transport prices grew at a faster rate.

Inflation remained at 10.7% in November, matching October’s reading. As such, November's reading was the joint-highest inflation rate since January 2016. Meanwhile, the trend pointed up, with annual average inflation coming in at 7.8% in November (October: 7.3%).

Panelists participating in the LatinFocus Consensus Forecast see inflation ending 2022 at 4.9%, which is unchanged from last month’s forecast, and 2023 at 3.5%.

Author:, Economist

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Brazil Inflation Chart

Brazil Inflation November 2021 0

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

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