Rio de Janeiro – Inflation in January 2017 in Brazil was the lowest for the month since record-keeping began, in 1979 – i.e. a near-four-decade low. So says the Brazilian Institute of Geography and Statistics (IBGE) this Wednesday (8) in Rio de Janeiro on announcing a 0.38% rate for the Extended National Consumer Price Index (IPCA).
The rate climbed by 0.8 percentage point in January from December 2016, going from 0.3% to 0.38%, but dropped by 0.89 point from 1.27% in January 2016. The month-on-month hike was driven by bus fares, which were up 2.84% on the back of a 1.28% hike in fuel prices.
In the 12 months through January, the IPCA reached 5.35%, down 0.94 point from 6.29% in the 12 months through December 2016.
*Translated by Gabriel Pomerancblum