Brazil’s official inflation closes out 2022 at 5.79%
Brazil’s consumer price index IPCA, the nation’s official gauge for the inflation, closed out 2022 at 5.79 percent. The index was below 2021’s 10.06 percent, statistics agency IBGE reported today (Jan. 10).
The inflation in 2022 was pulled mainly by food and beverages, which saw an 11.64 percent price increase in the year, thus above 2021’s 7.94 percent. Health and personal care expenses also had an important impact, and became 11.43 percent more expensive. Clothing, in turn, faced the sharpest variation in the month, 18.02 percent.
Transportation helped curb the 2022’s IPCA, with a 1.29 percent deflation in the year. The category had reported 21.03 percent inflation in the year prior.
Target
For 2022, the National Monetary Council had fixed the target for the inflation at 3.5 percent, with a tolerance margin of 1.5 percentage points. The IPCA, therefore, could not have exceeded five percent or sink below two percent.
