Brazil's Inflation Meets Target in December

Brazil's annual inflation rate declined to 6.41 percent in December of 2014 from 6.56 percent in the previous month, coming back to the central bank’s target range for the first time in five months.
Joana Taborda | 1/9/2015 11:42:14 AM
 The central bank targets inflation at 4.5 percent plus or minus two percentage points.

On a monthly basis, consumer prices rose 0.78 percent in December, accelerating from a 0.51 percent increase in the previous month. Transport prices recorded the highest increase (1.38 percent), mainly due to a 42.53 percent increase in cost of airline tickets. Food cost rose 1.08 percent; apparel went up by 0.85 percent and housing increased 0.51 percent. In contrast, prices of communication and household articles were flat.