Financial News: Brazil Inflation Climbs To 14-Month High

Brazil Inflation Climbs To 14-Month High

12/10/2024 - 07:55:00 (RTTNews)

(RTTNews) - Brazil's consumer price inflation rose further in November to the highest level in more than a year, figures from the Brazilian Institute of Geography and Statistics, or IBGE, showed on Tuesday.

The consumer price index climbed 4.87 percent year-over-year in November, faster than the 4.76 percent rise in October. Economists had expected inflation to increase to 4.85 percent.

Further, this was the strongest inflation since September 2023, when prices had risen 5.19 percent.

The annual price growth in food and non-alcoholic beverages accelerated to 7.63 percent in November from 6.65 percent in October. Similarly, transportation costs grew at a faster pace of 3.11 percent. Meanwhile, the growth in housing and utilities decelerated to 4.0 percent from 6.1 percent.

On a monthly basis, consumer prices increased 0.39 percent versus a 0.56 gain in October.

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