LatinNews Daily - 09 November 2020

* Brazil’s national statistics institute (Ibge) has released the latest figures for the consumer price index (IPCA), according to which monthly inflation reached 0.86% in October – the highest figure for inflation in October since 2002. This brings annual inflation to 3.92%. Increasing prices of food and drink continued to drive inflation, although inflation in this category slowed down in October (1.93%) compared with September (2.28%). The transport category saw the second highest increase in prices in October (1.19%), driven principally by a 39.83% increase in the price of airline tickets. “The increase in airline tickets is related to demand, as with the relaxation of social distancing [against the coronavirus], some people started using the service again, which impacted airlines’ pricing policy,” the Ibge’s Pedro Kislanov explained. Brazil's central bank has set an inflation target of 4% +/-1.5 for this year.

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