Consumer inflation in Brazil soars monthly, annually in September
Date
10/13/2024 8:14:16 AM
(MENAFN) Brazil's consumer inflation saw an uptick in September, with both annual and monthly figures indicating an increase, as reported by the Brazilian Institute of Geography and Statistics (IBGE) on Wednesday. Year-on-year, consumer inflation rose to 4.42 percent in September, up from a 4.24 percent gain in August. This acceleration reflects rising prices but came in slightly below market expectations, which had anticipated a 4.43 percent increase.
On a monthly basis, the consumer price index experienced a rise of 0.44 percent in September, marking a significant turnaround from the 0.02 percent decline observed in August. This monthly increase indicates a rebound in consumer prices, although it was just shy of market forecasts, which had predicted a slightly higher rise of 0.46 percent.
In September, specific categories contributed notably to the inflationary pressures. Housing costs surged by 1.8 percent compared to the previous month, reflecting ongoing challenges in the housing market. Meanwhile, the food and beverages sector also saw price increases, with a monthly rise of 0.5 percent, adding to the overall inflationary trend.
Overall, the latest inflation data signals a persistent upward trajectory in consumer prices within Brazil, influenced by rising housing costs and essential goods. While the year-on-year inflation is accelerating, the figures still suggest that inflationary pressures are being managed, albeit with caution from market analysts.
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