Brazil Inflation


Brazil: Inflation rises to highest rate in nearly three years

October 8, 2014

Consumer prices increased in September, rising 0.57% over the previous month. The print was above the 0.25% increase recorded in August and market expectations of a 0.47% rise. Among the categories that tallied price increases, prices rose the most for food and beverages.

As a result of the monthly reading, annual headline inflation increased from 6.5% in August to 6.7% in September. Inflation now rests at the highest level since October 2011 and is currently above 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 6.4% at the end of 2014. For 2015, the Bank sees inflation closing the year at 6.0%. LatinFocus Consensus Forecast participants see inflation closing 2014 at 6.3%, which is unchanged from last month’s forecast. For 2015, the panel expects inflation of 6.3%.

Author: Angela Bouzanis, Senior Economist

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Brazil Inflation Chart

Brazil Inflation September 2014

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

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