Economics
Brazil Inflation Surpasses Forecasts as War Drives Up Prices
- Consumer prices rose 10.54% on year, 1.01% on month in Feb.
- Policy makers will raise interest rates again next week
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Brazil’s inflation shot past expectations last month just as Russia’s invasion of Ukraine sends global commodity prices soaring and prompts speculation the central bank will raise its interest rate more than expected.
Prices increased 10.54% in February from a year ago, above the 10.47% median forecast in a Bloomberg survey. Monthly inflation stood at 1.01%, the national statistics agency reported on Friday, above the 0.95% analyst estimate.