Brazil Inflation Jumps, Bumping Up Against Target Ceiling

Brazil’s inflation picked up in April on more expensive food and fuel, reaching the upper limit of the central bank’s target range.

Official data released Tuesday show consumer prices gained 0.67% from a month earlier, nearly matching the 0.68% median estimate from analysts in a Bloomberg survey. From a year ago, inflation reached 4.39%, up from 4.14% in March.