Brazil Inflation Unexpectedly Quickens to Fastest Since 2003
- January inflation exceeds all forecasts from economists
- Lawmakers fast-tracking central bank independence bill
This article is for subscribers only.
Brazil’s annual inflation rate unexpectedly accelerated in January after a controversial central bank decision to keep interest rates unchanged last month. Swap rates jumped.
The benchmark IPCA consumer price index rose 10.71 percent in 12 months through January, the fastest since November 2003. Thirty-six economists surveyed by Bloomberg expected inflation to slow to 10.52 percent. Inflation was 1.27 percent in January -- more than all forecasts -- compared to 0.96 percent in December.