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LatinNews Daily - 12 October 2023

In brief: Brazil’s inflation rises in September

* Brazil’s national statistics institute (Ibge) has released the consumer price index (IPCA) for September, showing a monthly inflation rate of 0.26%, up from the 0.23% inflation registered in August. This latest figure marks the third consecutive rise in monthly inflation, and brings the annual inflation rate to 5.19% – up from 4.61% in August and above the central bank (BCB)’s target of 3.25% +/-1.5. Six of the nine categories of products and services measured for the IPCA showed a rise in prices in September. The transport and housing categories saw the highest monthly inflation, at 1.40% and 0.47% respectively. Within the transport category, the price of gasoline rose by 2.80%, making it the product which saw the highest increase from August (up 0.14 percentage points). Inflation in the housing category was mainly driven by the rising price of household electricity, which was up by 0.99%.

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