Brazil: Inflation remains elevated in November
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%).