Economics
Brazil Inflation Speeds Up With More Key Rate Hikes in Sight
- Consumer prices rose 0.89% on month, 9.30% on year in mid-Aug.
- Central bank has lifted interest rate by 325bps since March
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Brazil’s consumer prices rose more than expected as the central bank readies its fifth straight interest rate hike in efforts to tame above-target inflation.
Prices rose 0.89% in mid-August from a month prior, more than all estimates in a Bloomberg survey that had a 0.83% median forecast. It was the highest mid-month print for August since 2002, the national statistics institute reported on Wednesday. Annual inflation sped up to 9.30%.