Official inflation closed out 2014 at 6.41%
The National Consumer Price Index (IPCA), the official inflation gauge, closed out 2014 at 6.41%, below the inflation target ceiling set by the federal government (6.5%). The target range was 4.5% plus or minus two percentage points. In 2013, the official inflation rate was 5.91%.
The IPCA measures the fluctuations in the cost of living for households maintained by wage earners with monthly incomes ranging between 1 and 40 times the minimum wage. Currently, the minimum wage is adjusted for inflation every year in January, plus real gains based on economic results (GDP). It is currently set at $292.73.
The IPCA survey is conducted by the Brazilian Institute of Geography and Statistics (IBGE) to measure changes in prices of goods and services in major metropolitan areas and capitals – Rio de Janeiro, Porto Alegre, Belo Horizonte, Recife, São Paulo, Belém, Fortaleza, Salvador, Curitiba, Brasília, and Goiânia.
Translated by Mayra Borges
Fonte: Official inflation closed out 2014 at 6.41%
