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ISTANBUL
Gain in Brazil’s annual consumer inflation rate slowed down in February, according to official data released on Friday.
The consumer price index rose 5.60% in February year-on-year, slowing down from an annual gain of 5.77% recorded in January.
The figure, however, came in higher than the market estimates of a 5.54% gain.
On a monthly basis, the consumer price index increased by 0.84%, the Brazilian Institute of Geography and Statistics (IBGE) said in a statement.
While the market estimates for the monthly figure were to show an increase of 0.80% in February, it is significantly up from a gain of 0.53% in January.
