Financial News: Brazil Inflation Slows To 3.93%, Lowest In 9

Brazil Inflation Slows To 3.93%, Lowest In 9 Months

04/10/2024 - 08:44:00 (RTTNews)

(RTTNews) - Brazil's consumer price inflation eased for the sixth straight month in March to the lowest level in nine months, figures from the Brazilian Institute of Geography and Statistics, or IBGE, showed on Wednesday.

The consumer price index climbed 3.93 percent year-over-year in March, slower than the 4.50 percent rise in February. Economists had expected inflation to moderate to 4.01 percent.

The latest inflation rate was the weakest since June 2023, when prices had risen 3.16 percent.

Moreover, inflation remained within the central bank's upper tolerance band of 4.50 percent.

Transportation charges grew at a slower pace of 3.7 percent annually in March versus a 6.2 percent surge a month ago. Meanwhile, prices for food and drinks were 3.1 percent higher compared to last year, versus 2.62 percent in February.

On a monthly basis, consumer prices moved up 0.16 percent in March, following a 0.83 percent rise in the previous month. The expected increase was 0.25 percent.

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