Brazil's Consumer Inflation Registers Monthly Gain in February
Annually, the consumer price index increases by 4.5%.
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Brazil's consumer inflation demonstrated an uptick in February, accelerating on a monthly basis, as per data released on Tuesday.
In February, consumer inflation rose annually by 0.83%, marking an increase from the 0.42% month-on-month gain recorded in January. This figure slightly surpassed market estimates of 0.78%.
On an annual basis, the consumer price index climbed by 4.5% in February, following a 4.51% increase in January. This figure also exceeded expectations of a 4.44% year-on-year gain.
According to the Brazilian Institute of Geography and Statistics (IBGE), prices increased in seven out of nine groups of products and services in February. The most significant monthly increase was observed in education, with a gain of 4.98%, followed by food and beverages at 0.95%.
On January 31, Brazil's central bank lowered its benchmark interest rate by 50 basis points to 11.25%, marking its fifth consecutive rate cut.
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