Inflation in Brazil Reaches 12.13% in 12 Months, The Highest since 2003

Food, beverages and transport are main sectors impacted

Inflation measured by the National Consumer Price Index - Broad (IPCA) hit 1.06% in April, as reported this Wednesday (11) by the Brazilian Institute of Geography and Statistics. It is the biggest change for the month since 1996. In the 12 months through April, inflation was 12.13%, the highest level since October 2003 (13.98%). In March 2022, the IPCA had already weighed on Brazilians' pockets, reaching the highest level in 28 years and rising 1.62%.

In April, the main impacts came from food and beverages (2.06%) and transportation (1.91%). Together, the two groups contributed around 80% of the April IPCA.

The result for the month was in line with what market analysts expected. Those polled by the Bloomberg agency had expected an increase of 1.01%, in the monthly comparison, and of 12.07% in the annual comparison.

Translated by Kiratiana Freelon

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