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Financial News: Brazil Inflation Accelerates More Than Expected

Brazil Inflation Accelerates More Than Expected

05/11/2022 - 10:14:00 (RTTNews)

(RTTNews) - Brazil's consumer price inflation accelerated at a slightly faster-than-expected pace in April, largely driven by rising costs for transportation, clothing, household articles and food and drinks, figures from the Brazilian Institute of Geography and Statistics, or IBGE, showed on Wednesday.

Consumer prices climbed 12.13 percent year-on-year in April, following an 11.3 percent rise in March. That was just above economists' forecast for an increase of 12.07 percent.

Among commodity groups, costs for transport grew the most, by 19.70 percent annually in April and those of household articles surged 15.34 percent.

Prices for food and drinks logged a growth of 13.47 percent and clothing charges alone rose by 14.73 percent.

On a monthly basis, consumer prices increased 1.06 percent in April, slower than March's 1.62 percent rise. The expected rate of increase was 1.0 percent.

The monthly increase for April was the biggest since 1996, when prices had grown 1.26 percent, the statistical office said.

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