Brazil’s official inflation down to 2.49% a year

The National Broad Consumer Price Index (IPCA), Brazil’s official inflation gauge, saw a deflation of 0.04 percent in September this year. The rate is lower than the inflation reported in August (0.11%) and September last year (0.48%).

As per figures released today (Oct 9) by Brazilian statistics institute IBGE, the country’s official inflation stands at 2.49 percent year-to-date and 2.89 percent month-on-month.

Deflation in September was mainly driven by a 0.43 percent slip in food and drinks prices. Other groups with deflation include communication (0.01%) and household articles (-0.76%).

Health and personal care costs reported the highest price hikes in September: 0.58 percent, pulled by a 1.66 percent increase in personal hygiene articles, and 0.57 percent in health insurance plans.