Brazil’s Inflation Down, But Still a Hefty 6.97%

Construction work in Brazil Brazilian government statistics from the IBGE (Brazilian Institute of Geography and Statistics) show that Brazil’s benchmark IPCA, consumer price index, rose 0.43% in October from September, slightly above expectations.

 The agency said the data was released a day ahead of schedule due to a failure in its publishing system.

The data pointed to inflation slowing to 6.97% in the 12 months through October from 7.31% in the 12 months through September, analysts said. That is still above the 2.5% to 6.5% range targeted for annual inflation by the central bank. Inflation gained to 5.43% in the first 10 months of the year.

The slowdown from September’s rise of 0.53% could be a relief for policymakers, with Central Bank President Alexandre Tombini predicting for months that annual inflation would slow starting in October.

The yield on the interest rate future contract due in January 2013 – a gauge for expectations on the level of the benchmark overnight Selic rate at the end of 2012 – was little changed on Thursday.

The yield on the contract, among the most widely traded in São Paulo, fell 1 basis point to 9.99% from 10% on Wednesday.

The agency also said that the number of workers employed by Brazil’s industrial sector fell 1.4% in September.

Mercopress

Tags:

  • Show Comments (0)

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

200 People Feared Killed Under Mudslide in Niterói, Rio de Janeiro

200 people may have been killed in a landslide in a Rio de Janeiro ...

Dow, DuPont, Monsanto and Syngenta Take Over Brazil’s Corn

Recent news from media sources would have readers believe that Brazil is euphoric in ...

Brazil Becomes a Leader in the AIDS War

The city of Olinda, Pernambuco, in Northeastern Brazil, will host the First Brazilian Congress ...

Brazil’s Trade Surplus Tumbles US$ 13 Billion from Last Year

The Brazilian trade surplus (exports minus imports) reached US$ 734 million in the second ...

Brazilian President Calls World Criticism of Biofuels “Dirty Trick”

Brazil is not that "poor little thing" anymore and the country will not allow ...

Best-seller Books, Plays and Movies

By Brazzil Magazine Plays, movies & best-seller books PLAYS Rio O Carteiro e o ...

Swiss multinational Syngenta

A Brazilian Peasant Group Goes to War Against Swiss Multinational Syngenta

March 14 marked the one-year anniversary of the Via Campesina’s non-violent occupation of Syngenta ...

White House spokesman Tony Snow

Bush Wants Brazilians to Know He Hasn’t Forgotten His Neighbors Down Under

President Bush is expanding U.S. aid for education, health care, housing and other programs ...