* Brazil’s national statistics institute (Ibge) has released the consumer price index (IPCA) for November, showing a monthly inflation rate of 0.28%, up from 0.24% registered in October but down from 0.41% in November last year. Accumulated inflation in the 12 months to November 2023 came to 4.68%. Out of the nine categories of products and services measured for the IPCA, six saw a rise in prices, with food & drink registering the highest monthly inflation (+0.63%). In a press release, Ibge research coordinator André Almeida is cited as attributing the rise in food prices to unfavourable climate conditions, as extreme heat and heavy rains in different parts of the country had impacted crop harvests and food production.
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LatinNews Daily - 13 December 2023
In brief: Food prices drive Brazil’s inflation in November
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