Brazil Inflation Rate Hits Double Digits


Consumer prices in Brazil went up 10.48 percent year-on-year in November of 2015, the biggest rise since November of 2003 when the inflation hit 11.02 percent. The country is struggling with stubbornly high inflation since mid-2014 after the government imposed several tax increases aiming at balancing overall budget while the real fell around 46 percent to the USD in the first eleven months of the year.

Year-on-year, the housing category recorded again the highest increase (18.33 percent, following an 18.25 percent rise in the previous month). Prices of electricity jumped 51.27 percent (52.3 percent in October), domestic fuel rose 22.04 percent (21.81 percent in October) and rental and fees grew 9.55 percent (8.52 percent in October). 

Prices of food and drinks went up 11.56 percent (10.39 percent in October) and transport cost gained 10.19 percent (9.48 percent): fuel surged 20.56 percent (17.64 percent in October) and public transportation jumped 10.58 percent (10.24 percent in October). In addition, education cost rose 9.08 percent and prices of health and personal care grew 8.98 percent. 

The monthly index went up 1.01 percent, the biggest rise since March and the highest for a November month since 2002. The biggest upward impact came from fuels, 4.16 percent more expensive. 

Considering the first eleven months of 2015, consumer prices have risen 9.62 percent. 

Brazil Inflation Rate Hits Double Digits


Joana Taborda | joana.taborda@tradingeconomics.com
12/9/2015 11:29:35 AM