The central bank targets inflation at 4.5 percent with two-point tolerance range. Yet, prices stayed above the upper limit for the second straight month.
On a monthly basis, consumer prices increased 0.42 percent in October, slowing from a 0.57 percent rise in September. Except for health and apparel cost, all other prices rose at a slower pace. Food cost advanced 0.46 percent, following a 0.78 percent rise in the previous month, driven by a slowdown in meat cost.
Additional downward pressures came from transport prices (up 0.39 percent following a 0.63 percent increase in the previous month), as air tickets’ cost slowed sharply. Communication prices fell 0.05 percent, compared with a 0.13 percent rise in September.
Among regions, Rio de Janeiro recorded the highest annual inflation rate (7.61 percent) and Belém the lowest (5.95 percent each). In São Paulo, the inflation was recorded at 6.38 percent.