Brazil Anticipates 5.1% Inflation in 2005

Brazil’s Central Bank (BC) projects that Brazilian inflation in 2005 will be 5.1%, according to the minutes of the meeting of the BC’s Monetary Policy Committee (Copom), released today.

Despite price increases in petroleum-derived products, the Copom minutes maintain that there will be no overall change in the inflationary impact of prices administered by contract and monitored (fuels, electricity, telephone services, education, medications, and others).

According to the BC document, the projected readjustments in 2005 remain unaltered for fixed telephone rates (up 6.7%) and for residential electricity rates (up 7.6%), while bottled gas prices will be 1.2% less expensive.

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