Brazil’s National Broad Consumer Price Index (IPCA), which gauges the country’s official inflation, revealed a 0.21 percent drop in prices in November, as reported by the government’s statistics agency IBGE.
Launched on February 27, 1994, during the administration of Itamar Franco (1992-1994), the Plano Real (“Real Plan”) was a major economic stabilization program aimed at controlling the hyperinflation that was damaging the country.