Brazil & Southern Cone - December 2011 (ISSN 1741-4431)

Inflation is now running well over target at upwards of 8% a year and there is little sign of the rate coming down without a change in government policy. The question is which changes are being contemplated. In November the consumer price index jumped 0.4% month-on-month and 8.4% year-on-year. This was half a percentage point up on the annual rate in October and more than two percentage points above the target rate. The economy ministry is keeping its cards close to its chest. Officially, its line is that inflation is on the point of subsiding and that this trend will crystallise in the next few months.

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