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Brazil Set for Biggest Rate Hike Since 2003 as Economy Reopens

  • Policy makers must confront accelerating services inflation
  • Prices jumping for airfare, appliance repairs, restaurants
A cotton candy seller passes by visitors on Paulista Avenue in Sao Paulo, Brazil.

A cotton candy seller passes by visitors on Paulista Avenue in Sao Paulo, Brazil.

Photographer: Patricia Monteiro/Bloomberg

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A new front is opening up in Brazil’s war against inflation amid surging costs for services from airline fares to appliance repairs, sparking speculation that one of the world’s most aggressive central banks may this week deliver its biggest interest rate hike in almost two decades.

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