Financial News: Brazil Inflation Eases To 4.18%, Lowest In 30

Brazil Inflation Eases To 4.18%, Lowest In 30 Months

05/12/2023 - 11:12:00 (RTTNews)

(RTTNews) - Brazil's consumer price inflation eased for the tenth straight month in April to reach its lowest level in two-and-a-half years, figures from the Brazilian Institute of Geography and Statistics, or IBGE, showed on Friday.

The consumer price index climbed 4.18 percent year-over-year in April, slower than the 4.65 percent rise in March. Economists had expected inflation to ease to 4.10 percent.

This was the lowest inflation rate since October 2020, when prices had risen by 3.92 percent.

Moreover, inflation stayed within the central bank's target range of 1.75 percent to 4.75 percent for the second straight month.

Transport costs fell 2.92 percent annually in April amid a sharp decline in gasoline prices.

On a monthly basis, consumer prices moved up 0.61 percent in April, following a 0.71 percent rise in the previous month. The expected increase was 0.54 percent.

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