Brazil Inflation At 17-Month Low

brazil-inflation-at-17-month-low

Brazil’s consumer price inflation eased for the third straight month in September to reach its lowest level in nearly one-and-a-half years, figures from the Brazilian Institute of Geography and Statistics, or IBGE, showed on Tuesday.

The consumer price index climbed 7.17 percent year-over-year in September, slower than the 8.73 percent rise in August. That was almost in line with the 7.10 percent increase expected by economists.

Moreover, this was the lowest inflation rate since April last year, when prices had risen 6.76 percent.

Nonetheless, the latest rate was still well above the central bank’s current inflation target of 3.75 percent.

On a monthly basis, consumer prices dropped 0.29 percent in September, after a 0.36 percent fall in the previous month. The expected fall was 0.34 percent.

Further, the recent monthly rate was the smallest change for a month of September since the beginning of the historical series, the agency said.

Transport costs fell 1.98 percent monthly in September as result of a reduction in fuel prices, while housing costs rose 0.42 percent

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