LatinNews Daily - 10 February 2022

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In brief: High inflation continues in Brazil

* Brazil’s national statistics institute (Ibge) has released the latest figures for inflation, which show that the consumer price index (IPCA) grew 0.54% in January this year, the highest figure for that month since 2016. This nevertheless represents a slowdown in inflation compared with the final months of 2021 – monthly inflation in December stood at 0.73%. January inflation was notably driven by an increase in the prices of household items (1.82%) and food & drink (1.11%), while the transport sector – which contributed to double-digit annual inflation last year due to rising fuel prices – saw deflation of -0.11%. Inflation in the 12 months to January stands at 10.38%. Economists surveyed weekly by the central bank (BCB) currently expect inflation to close 2022 at 5.44.%.

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