Economics
Brazil Inflation Hits Forecast in Breather for Central Bank
- Consumer prices rose 10.38% on year, 0.54% on month in Jan.
- Central bank looking to slow aggressive tightening cycle soon
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Brazil’s consumer prices rose in line with forecasts while retail fared better than expected, a temporary break for the central bank plans as it prepares to slow the pace of the world’s most aggressive interest-rate hikes.
Prices increased 10.38% in January from a year ago, near the 10.39% median forecast in a Bloomberg survey. Monthly inflation stood at 0.54%. In a separate release also from the national statistics agency Wednesday, retail sales slipped 0.1% in December, compared to the median estimate for a 0.6% drop.