Brazil Annual Inflation Accelerates to Fastest Since 2008
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Brazilian inflation accelerated more than economists expected in March from a year earlier, led by food and transportation costs, taking the annual rate near the upper limit of the government’s target range.
Consumer prices rose 6.3 percent in March from the same month a year earlier and 0.79 percent from February, the national statistics agency said today. The results beat the median estimates of 6.19 percent and 0.7 percent in Bloomberg surveys of analysts. Finance Minister Guido Mantega on March 17 said monthly inflation might slow to 0.45 percent as Brazil’s economy decelerates toward 5 percent growth in 2011.