Rio de Janeiro – The country’s official inflation rate, as measured by the Extended National Consumer Price Index (IPCA), ended last year with a cumulative rate of 6.29%, below the cap limit of the target established by the Brazilian Central Bank (BC), which ranged from 4.5% to 6.5%. The data was made public this Wednesday (11) by the Brazilian Institute of Geography and Statistics (IBGE) in Rio de Janeiro.
The IPCA in December went up 0.3%, the lowest rate for the month since the 0.28% registered in December 2008. It also stood above the November’s rate of 0.18% – in October, the IPCA was 0.26%.
The 6.29% of cumulative inflation rate of last year was below the 10.67% registered in 2015 and the 6.41% of 2014. According to IBGE, the decline between 2015 and 2016 was due to the drop in food prices.
*Translated by Sérgio Kakitani
