Brazil Inflation Quickens More Than Forecast by All Analysts

Brazil’s inflation last month accelerated faster than forecast by all economists, pushing annual inflation to the fastest in three years less than three weeks before presidential elections.

Monthly inflation as measured by the benchmark IPCA index sped up to 0.57 percent from 0.25 percent in August, the national statistics agency said today in Rio de Janeiro. That was higher than every estimate from 40 economists surveyed by Bloomberg, whose median forecast was for a 0.48 percent rise. Annual inflation accelerated to 6.75 percent from 6.51 percent the month prior. Brazil targets inflation of 4.5 percent plus or minus two percentage points.