Brazil Consumer Prices Jump More Than Forecast in April

Brazilian consumer prices rose more than economists forecast in April, cementing expectations the central bank will continue raising rates to tame prices in the world’s second-biggest emerging market.

Prices as measured by the benchmark IPCA index climbed 0.55 percent in the month, the national statistics agency said today in Rio de Janeiro. The number was higher than all but one estimate from 37 economists surveyed by Bloomberg, whose median forecast was for a 0.48 percent increase. Annual inflation slowed to 6.49 percent, inside the central bank’s target range after breaching it in March. Analysts surveyed by Bloomberg had forecast 6.42 percent.