*Brazil’s national statistics institute (Ibge) has released its consumer price index (Ipca) for September, which showed a monthly inflation rate of 0.44%. This contrasts with monthly deflation of 0.02% registered in August, and brings annual inflation in September to 4.42% – up from 4.24% in August and close to the upper limit of the annual inflation target range of 3.0% +/-1.5 set by the central bank (BCB). Of the nine categories of products and services measured for the Ipca, six saw a monthly rise in prices. The category with the highest monthly inflation rate in September was housing (+1.80%), mainly driven by household energy bills. In a press release, the Ibge attributed the rise in energy costs to a decision by the federal electricity regulator (Aneel) to raise tariffs on power consumption in September. The tariff for this month was raised even higher, which is likely to impact Brazil’s overall inflation figure for October.
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LatinNews Daily - 10 October 2024
In brief: Brazil’s inflation accelerates in September
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