Brazil’s consumer inflation slows down in October

by Anadolu Agency

ISTANBUL

Brazil’s consumer inflation slowed down in October both annually and monthly, according to figures released Friday.

Consumer inflation annually increased 4.82% in October, slowing its pace from the 5.19% year-on-year gain recorded in September.

The figure also came in slightly lower than market estimates of 5.87%.

On a monthly basis, the consumer price index rose 0.24%, also coming lower than the market expectation of a 0.29% gain.

The figure was slightly lower than the month-on-month increase of 0.26% recorded in September.

Prices for eight of the total nine groups of products and services increased in October, the Brazilian Institute of Geography and Statistics (IBGE) said in a statement.

The largest monthly increase was recorded in transportation with a gain of 0.35%, followed by food and beverages at 0.31%.

Brazil’s central bank last week lowered its interest rate by another 50 basis points to 12.25% — its third consecutive rate cut since August.

You may also like