Brazil Inflation


Brazil: Inflation unchanged in November

December 5, 2014

Consumer prices in November increased 0.51% over the previous month. The print was above the 0.42% increase recorded in October, but undershot market expectations of a 0.54% rise. The result was driven by an increase in prices for food and beverages, as well as for transportation.

Annual headline inflation remained unchanged at October’s 6.6% in November. Consequently, inflation still remains just 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 6.4%, which is unchanged from last month’s forecast. For 2015, the panel expects inflation of 6.4%, which is also unchanged from the previous month’s projection.

Author: Angela Bouzanis, Senior Economist

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Brazil Inflation Chart

Brazil Inflation November 2014

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

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