LatinNews Daily - 11 November 2022

In brief: Brazil’s inflation rises, ending downward trend

* Brazil’s national statistics institute (Ibge) has released the latest consumer price index (IPCA), which shows monthly inflation of 0.59% in October. This is the first monthly increase after three consecutive declines in consumer prices this year (-0.68%, -0,36%, and -0.29% in July, August, and September, respectively). Last month's inflation rate was still significantly smaller than the rate posted in October 2021, of 1.25%. As a result, annual inflation declined to 6.47%, compared to 7.17% in September. Yet, the rate remains above the target set by Brazil’s central bank (BCB), of 3.5% +/- 1.5 for 2022. The IPCA hike in October was driven by increases in the categories of food & beverages (0.72%), health & personal care (1.16%), and transportation (0.58%).

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