In October, Brazil registered the biggest increase in inflation for the month since 2002, a 1.25% increase in the Extended National Consumer Price Index driven by gasoline and airline tickets.
According to the Brazilian Institute of Geography and Statistics, which determines the number, all nine groups of items surveyed rose.
The 12-month high reached 10.67%, the highest since January 2016, surpassing market expectations and moving away from the ceiling of the target set by the Central Bank, of 5.25% for this year.
The climb should continue in 2022, and projections are being revised, with a risk to economic activity.
The high dollar, fiscal uncertainties and a rebound in the services sector are likely to continue to pressure goods and services at least in the short term, economists say.
Companies, given the rising cost of fuel and electricity, will also pass on their burden to the consumer.
In the 12-month period, China experienced the highest industrial inflation in 26 years (13.5%) and the US, the biggest consumer price jump in 30 years (6.2%).
Translated by Kiratiana Freelon