Brazil Inflation Rate Edges Down

Brazilian annual consumer prices marginally slowed to 6.56 percent in November of 2014 from 6.59 percent in the previous month, but stayed above the official target range for the fourth consecutive month.

The central bank targets inflation at 4.5 percent for each calendar year with a tolerance margin of 2 percentage points.

Year-on-year, prices in Rio de Janeiro recorded the highest increase (+ 7.37 percent), followed by Goiânia (6.82 percent) and Recife (6.82 percent). In São Paulo, the inflation was recorded at 6.43 percent.

On a monthly basis, consumer prices accelerated to 0.51 percent from 0.42 percent in October of 2014. Food items increased the most (+ 0.77 percent,) mostly due to rises in cost of potatoes (+ 38.71 percent), carrots (+12.24 percent), acai berry (+3.66 percent) and meat (+3.46 percent). Additional upward pressures came from housing costs (+0.69 percent), transports (+0.43 percent) and clothing (+0.39 percent).

Among regions, Goiânia posted the largest monthly increase (+ 1.21 percent), followed by Belém (+0.81 percent) and Campo Grande (+0.68 percent). In São Paulo, inflation was recorded at 0.55 percent while in Rio de Janeiro the rate was at 0.58 percent.

Brazil Inflation Rate Edges Down

Carolina Cunha |
12/5/2014 12:02:53 PM