Brasilia – The Brazilian Central Bank’s (BC) expectations, that inflation in 2013 would be lower than that in 2012, was not met. The Broad Consumer Price Index (IPCA) at the end of 2013 reached 5.91%, according to an announcement made this Friday (10) by the Brazilian Institute of Geography and Statistics (IBGE). In 2012, the inflation was registered at 5.84%.
The BC forecast, released in the Inflation Report in December last year, was that the IPCA would reach 5.8%. The 2013 official inflation was also above the estimates by financial institutions consulted weekly by the BC, which expected the index to reach 5.74%. The result was above the inflation target center (4.5%), established by the government and which should be aimed by the BC, but below the top limit, of 6.5%.
*Translated by Silvia Lindsey
