Brazil’s inflation in the month through mid-April slowed less than economists estimated, increasing economists’ expectations that the central bank will continue its pace of rate increases. Swap rates rose. Inflation as measured by the benchmark IPCA-15 index slowed to 1.07% from 1.24% a month earlier, the national statistics agency said on its website Friday. That was faster than the median 1.02% forecast from 37 economists surveyed by Bloomberg. Annual inflation sped up to 8.22% from 7.90%. Analysts forecast 8.17%. Inflation running above the government’s target range is adding to the challenges facing President Dilma Rousseff’s economic team. While monthly inflation probably peaked with the bulk of regulated price adjustments now implemented, it will only recede gradually and force the central bank to continue raising rates in its next monetary policy meeting on Apr. 29, said Neil Shearing, chief emerging market economist at Capital Economics.
