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Brazil's annual consumer inflation rises 5.9% in November

Brazil's annual consumer inflation rises 5.9% in November
Consumer prices increase by 0.41% on monthly basis

By Ovunc Kutlu

ISTANBUL (AA) - Brazil’s consumer price index was up 5.9% year-on-year in November, according to official data released on Friday.

The market expectation was a gain of 6.01% after a jump of 6.47% in October.

On a monthly basis, consumer prices increased by 0.41% in November, according to the Brazilian Institute of Geography and Statistics (IBGE).

The market estimate for the monthly figure was a 0.55% gain, following an increase of 0.59% in October.

The biggest change came from apparel, which rose 1.1% in November, the IBGE said in a statement.

Brazil’s central bank this week kept its interest rate unchanged at 13.75%, in line with market expectations.

Banco Central Do Brasil last made a rate hike of 50 basis points on Aug. 3, raising the rate to 13.75%, the highest since early 2017, and significantly up from the record low of 2% in March 2021.

source: News Feed
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