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Financial News: Brazil Inflation Eases To 4.51%, Less Than Forecast

Brazil Inflation Eases To 4.51%, Less Than Forecast

02/08/2024 - 08:22:00 (RTTNews)

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

The consumer price index climbed 4.51 percent year-over-year in January, slower than the 4.62 percent rise in December. Economists had expected inflation to moderate to 4.42 percent.

Nonetheless, inflation remained within the central bank's upper tolerance band of 4.75 percent.

Transport costs grew at a slower pace of 5.86 percent annually in January versus a 7.14 percent surge a month ago.

Costs for health and personal care alone grew 7.29 percent, and prices for food and drinks were 1.83 percent higher.

On a monthly basis, consumer prices moved up 0.42 percent in January, following a 0.56 percent rise in the previous month. The expected increase was 0.34 percent.

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