Brazilian Inflation Rate Steady at 5.84% in October

In October of 2013, Brazil’s annual inflation rate reached 5.84 percent, nearly unchanged from 5.86 percent recorded in the previous month. On a monthly basis, however, prices accelerated 0.57 percent, the highest rate in eight months, boosted by rising food cost.

Among food products, prices of wheat flour recorded the highest annual increase (32.6 percent), followed by cost of powdered milk (up by 20.2 percent), macaroni and fruit (15.9 percent, respectively). Downward pressures came from onion prices (decreased 19 percent yoy), cost of tomatoes (-17 percent yoy) and soybean oil (-15.3 percent yoy).

From September to October, cost of food recorded the highest increase and accelerated to 1.03 percent, up from 0.14 in the previous period, mainly due to a surge in prices of meat and tomatoes. 

Cost of clothing rose 1.13 percent and transport prices decelerated to 0.17 percent. 

Among regions, Recife, Curitiba, Belém, Rio de Janeiro, Brasilia and Fortaleza recorded higher inflation rates, while Golanla, São Paulo, Poro Alegre, Belo Horizonte and Salvador recorded rates of inflation lower than 5.84 percent.

Brazilian Inflation Rate Steady at 5.84% in October

Joana Taborda |
11/7/2013 11:38:03 AM