(Recasts throughout with details, context)
By Bruno Federowski
BRASILIA, Nov 7 Brazil's inflation rate
accelerated less than expected in October, bolstering the case
for the central bank to wait longer before hiking interest
Consumer prices tracked by the benchmark IPCA index rose
4.56 percent in the 12 months through October, government
statistics agency IBGE said on Wednesday, barely above the 4.53
percent mid-October rate.
Economists polled by Reuters had expected a 4.66 percent
Even that smaller-than-expected headline number likely
overstates inflationary pressures. Much of the increase stemmed
from higher food and energy prices, notoriously volatile
categories which are not very sensitive to monetary policy.
So-called core inflation, which strips the index of volatile
components, is hovering around 3.5 percent, far below the
central bank's 4.5 percent target for 2018 and 4.25 percent for
That is likely to allow the bank to keep rates at an
all-time low in the short term, adding support to an
underwhelming economic recovery.
The IPCA index rose 0.45 percent from September, IBGE said,
compared to a median 0.55 percent estimate.
Below is the result for each price category:
- Food and beverages 0.59 0.10
- Housing 0.14 0.37
- Household articles 0.76 0.11
- Apparel 0.33 -0.02
- Transport 0.92 1.69
- Health and personal care 0.27 0.28
- Personal expenses 0.25 0.38
- Education 0.04 0.24
- Communication 0.02 -0.07
- IPCA 0.45 0.48
(Reporting by Bruno Federowski
Editing by Chizu Nomiyama)
BRASILIA, Nov 6 The Brazilian central bank on
Tuesday forecast that inflation is likely to peak in the second
quarter of 2019 before easing towards its target, adding that
underlying inflation was at "appropriate" levels.
BRASILIA The Brazilian real is expected to hold at its current level in the coming months, the latest Reuters poll showed, after the victory of far-right lawmaker Jair Bolsonaro in the presidential elections ended a currency sell-off.
BRASILIA, Oct 31 Brazil's central bank on
Wednesday held interest rates at an all-time low less than a
week after the victory of far-right lawmaker Jair Bolsonaro in
presidential elections allayed fears of a currency sell-off.
BRASILIA Brazil will likely hold interest rates at an all-time low this week and wait longer to raise them as far-right lawmaker Jair Bolsonaro's victory in the presidential election stems a currency selloff, a Reuters poll showed.
BRASILIA, Oct 23 Inflation in Brazil
unexpectedly held steady in mid-October above the midpoint of
the official target, giving the central bank plenty of time to
increase interest rates in the coming months.
BRASILIA/SAO PAULO Far-right Brazilian presidential candidate Jair Bolsonaro vowed on Tuesday to appoint non-partisan ministers, breaking with the tradition of building cabinets through coalitions, as part of his bid to tackle graft in Latin America's largest economy.
BRASILIA/SAO PAULO, Oct 9 Far-right Brazilian
presidential candidate Jair Bolsonaro, pushing to put business
leaders in government roles, could invite the head of global
markets at Santander Brasil SA to lead the central
bank if current governor Ilan Goldfajn declines to stay, a
newspaper reported on Tuesday.
BRASILIA/SAO PAULO Brazilian markets rose on Monday after far-right presidential candidate Jair Bolsonaro ran up a huge lead in the first round of voting, boosting investors' hopes that he will tackle a growing fiscal deficit and privatize key companies.
BRASILIA Brazil's far-right presidential candidate Jair Bolsonaro turned his party from a footnote in a crowded Congress into a national behemoth on Sunday, underscoring a seismic shift in Latin America's biggest nation as voters raged against the political establishment.