Brazil inflation closed out 2021 at 10.06%

Brazil’s National Broad Consumer Price Index—the country’s official inflation—was up 0.73 percent in December and 10.06 percent year to date.

The data were released today (Jan. 11) by the government’s statistics agency IBGE. It is the highest rate for a year since 2015, when the IPCA rose 10.67 percent.

The official inflation was way above the 3.75 percent target set by the country’s National Monetary Council for 2021, whose ceiling was 5.25 percent.

The result is reported to have been chiefly driven by transport, which floated 21.03 percent year to date. Next come housing—up 13.05 percent—and food and drinks, up 7.94 percent in 2021.

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