Brazil Inflation Rate at 11-Month Low in November

In November of 2013, Brazilian annual inflation rate slowed for the fifth straight month to 5.77 percent, from 5.84 percent a month earlier, due to lower food prices. On a monthly basis, prices decelerated to 0.54 percent, slightly down from 0.57 percent in October.

Among food products, prices of soybean oil recorded the highest annual drop (-17.64 percent), followed by cost of bean (-15.08 percent) and onions (-14.48 percent). Rice prices dropped by 4.56 percent. In contrast, cost of wheat flour went up 32.56 percent and milk powder prices rose 21.85 percent.

On a monthly basis, food prices decelerated in November to 0.56 percent from 1.03 percent in October (rice prices and bean cost dropped by 1.04 percent and 7.96 percent, respectively). 

Other downward pressures came from household articles (0.38 percent in November from 0.81 percent in October) and clothing (0.85 percent versus 1.15 percent). Housing prices edged up 0.69 percent and transport cost accelerated to 0.36 percent. 

Among regions, Fortaleza, Rio de Janeiro, Brasília and Recife recorded higher annual inflation rates, while Porto Alegre, Goiania, Belo Horizonte, Belem, Curitiba, Sao Paulo and Salvador recorded rates of inflation lower than 5.77 percent.

Brazil Inflation Rate at 11-Month Low in November

Joana Taborda |
12/6/2013 11:29:59 AM