LatinNews Daily - 12 April 2023

In brief: Brazil’s inflation slows in March

* Brazil’s national statistics institute (Ibge) has released the latest consumer price index (IPCA), which showed monthly inflation of 0.71% in March, down from the 0.84% registered in February and from the 1.62% registered in March 2022. This has brought the annual inflation figure over the past 12 months to 4.65%, down from annual rate of 5.60% registered in February. Inflation in March was mainly driven by transport (+2.11%) and health and personal care (+0.82%), and the only category which saw a decrease was domestic goods (-0.27%). Within the transport category, gasoline was the product which saw the highest rise in prices (+8.33%). Ibge analyst André Almeida stated that the rise in gasoline prices was mainly caused by the return of federal fuel taxes introduced at the start of the month.

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