Of the nine groups of products and services surveyed by IBGE, six saw an increase in prices. Chief among them was food and beverages, which rose by 0.63 percent—more than double the figure for October (0.31%).
The most significant pressures on prices were observed in the transportation and food and beverage sectors, according to the government´s statistic agency IBGE.
“We’re at a moment when we can make the economy grow, and we still have a lot of monetary fat to burn. We still have a [benchmark interest] rate of 12.25% [a year],” Finance Minister Fernando Haddad said at an event held by the BTG Pactual bank Monday.
The Monetary Policy Committee of the Brazilian Central Bank expressed its intention to continue making further 0.5-point reductions in the upcoming meetings.
The rate is up from August’s 0.23%. According to statistics bureau IBGE, which released the survey Wednesday, the 2.80% hike in gasoline was the main pressure on the result.