Economy

Official inflation above target ceiling for 2014

With a growth rate of 0.25% in August, the IPCA reached 6.51% in the

Vitor Abdala reports from Agência Brasil

Published on 05/09/2014 - 11:58

Rio de Janeiro

Brasília - A inflação oficial, medida pelo Índice Nacional de Preços ao Consumidor Amplo (IPCA), ficou em 0,55% em janeiro deste ano, taxa inferior a dezembro de 2013, que alcançou 0,92% (Marcello Casal/Agência Brasil) — © Agencia Brasil

Brazil official inflation rate, as measured by the National Broad Consumer Price Index (the “IPCA”), closed out August at 0.25%. In July, the rate had stood at 0.01%, and 0.24% in August last year.

According to data released today (Sep 5) by the Brazilian Institute of Geography and Statistics (“IBGE”), the IPCA has accumulated a 4.02% so far in the year, and 6.41% in the 12-month period—slightly above the 6.5% target set by the government.

The climb in August was still driven by housing costs, which, at 0.94%, accounts for over half of the IPCA. The rise in spending on housemaids (1.26%) and electric energy (1.76%) also played a significant role in the figures for August.

Food prices, however, were reported as having dipped 0.15%. They were the main factor curbing the increase in the IPCA.

Translated by Fabrício Ferreira

Fonte: Official inflation above target ceiling for 2014

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