74611
Consumer prices rose 2.71%.
Consumer prices rose 2.71%.

Brazil Inflation Reaches Three-Month High

Brazil Inflation Reaches Three-Month High

Brazil’s inflation rate sped up to the fastest in three months in mid-October as cooking gas prices spiked, bolstering expectations that it has finally bottomed out after hitting 18-year lows.
The reading should support the central bank’s plan to slow the pace of interest rate cuts next week as the economy emerges from the deepest recession in over 100 years, even though inflation still lags far behind the official target, Reuters reported.
Consumer prices as measured by the IPCA-15 index rose 2.71% in the 12 months through mid-October, data from government statistics agency IBGE showed on Friday, largely in line with the 2.70% median estimate in a Reuters poll of economists. A 5.7% jump in cooking gas prices accounted for most of the increase after state-controlled oil company Petroleo Brasileiro SA repeatedly hiked prices following weather-related disruptions to global supply.
Signs of steadying food prices, which fell at a slower pace than in previous months, would also suggest the rate of price hikes may be accelerating. A record harvest helped to pull down inflation from double digits early in 2016 at a faster pace than anticipated.
Inflation has been hovering below the bottom-end of the official target range, of 4.5% plus or minus 1.5 percentage point, since July, with some economists betting it will undershoot the annual goal.
Nevertheless, the central bank is widely expected to implement a smaller rate cut than in previous meetings, with expectations that it would reduce them by 75 basis points.
Meanwhile, the Brazilian economy added a net 34,392 payroll jobs in September, data from the labor ministry showed on Thursday, the sixth straight month of gains.
In the first nine months of 2017, Brazil opened a net 208,874 payroll jobs, in a further sign of labor market strength following the nation’s deepest recession in a century.

Short URL : https://goo.gl/3wzqSr
  1. https://goo.gl/SaaEUZ
  • https://goo.gl/eay2dx
  • https://goo.gl/51k1QK
  • https://goo.gl/2WQ1dS
  • https://goo.gl/MsTGFf

You can also read ...

IMF Cautions Kenya on Rising Debt
The International Monetary Fund has cautioned that Kenya’s...
Gold Inches Up as Dollar Dips
Gold prices crept up on Wednesday amid a softer dollar, with...
AT&T-Time Warner Merger Case Politically Motivated
The US Justice Department’s lawsuit to block AT&T’s $85...
All three sides can’t agree on a few key issues.  Top of the list: The manufacturing of cars.
No meaningful progress is being made in NAFTA trade talks...
Credit Tightening Dominoes Threaten Asia With Hidden Risks
With Asia’s economies humming along, consumer prices rising...
The rules say that EU countries should have budget deficits below 3% of GDP and public debt below 60% of GDP.
National budgets of six eurozone countries may break the...
UK Slashes Growth Projections
Britain slashed its official projections for economic growth...
Mexico Boosts Minimum Wage
The bittersweet news for Mexico’s poorest workers: the...

Add new comment

Read our comment policy before posting your viewpoints

Image CAPTCHA
Enter the characters shown in the image.

Trending

Googleplus