LatinNews Daily - 12 March 2021

In brief: Inflation rises sharply in Brazil

* Brazil’s national statistics institute (Ibge) has released the latest figures for the consumer price index (IPCA), which show that monthly inflation totalled 0.86% in February, bringing annual inflation to 5.20%. This is the highest level of inflation registered for the month of February since 2016, and a sharper increase than expected. It was driven primarily by the 7.11% increase in the price of petrol, which contributed to 2.28% inflation in the transport segment. Annual inflation is currently pushing the upper limit of the central bank’s (BCB) 3.75% +/-1.5 target range.