Weekly Report - 18 January 2024 (WR-24-02)

BRAZIL | Annual inflation within target. The national statistics institute (Ibge) reported that annual inflation in 2023 came to 4.62%, down from the 5.72% registered in 2022. The annual inflation target range of the central bank (BCB) for 2023 was 3.25% +/-1.5. The accumulated annual inflation rate was highest at the start of the year, above the target range, with 5.77% in January and 5.60% in February.