*Brazil’s national statistics institute (Ibge) has announced that the IPCA-15 consumer price index registered monthly inflation of 1.23% in February, up from 0.11% in January. This brings the annual inflation rate in February to 4.96%, up from 4.50% last month and breaching the central bank (BCB)’s target of 3.0% +/-1.5. Ibge highlighted the impact of rising prices for housing, which it expects to increase by 4.34% in February in monthly terms due to higher electricity tariffs, and education, which it expects to rise by 4.78% due to annual increases in tuition fees.
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