Brazil Inflation Rises To 5.06%, Highest In 17 Months

(RTTNews) - Brazil's consumer price inflation accelerated in February to the highest level in nearly one-and-a-half years, figures from the Brazilian Institute of Geography and Statistics, or IBGE, showed on Wednesday.

The consumer price index climbed 5.06 percent year-over-year in February, faster than the 4.56 percent rise in January. Economists had expected inflation to rise to 5.0 percent.

The latest inflation rate was the highest since September 2023, when prices had risen 5.19 percent.

Moreover, the inflation rate continued to remain within the central bank's upper tolerance band of 4.5 percent.

A 3.78 percent rebound in housing costs had an upward effect on inflation. Costs for food and beverages grew markedly by 7.0 percent, and transport charges were 5.21 percent more expensive compared to last year.

On a monthly basis, consumer prices moved up 1.31 percent versus a 0.16 gain in January.