Inflation in Brazil accelerated by 0.93 % during the month of March, which is the highest figure for this month since 2015 when the national price index stood at 1.32 %, according to the Brazilian Institute of Geography and Statistics (IBGE in Spanish).
So far this year, inflation in the South American country has stood at 2.05 %, while in the last 12 months it has risen to 6.10 %.
The advance of inflation in March comes after six of the nine groups of products and services analyzed have increased their price. Transport registered the highest increase (+3.81 %), followed by housing (+0.81 %). In contrast, the groups of education (-0.52 %), health and personal care (-0.02 %) and communication (-0.07 %) recorded negative variations.
The Government’s objective is for inflation to be in the 3.75 % range in 2021, with a margin of 1.5 points above and below (from 2.25 % to 5.25 %). Analysts consulted by the Central Bank of Brazil estimate that the price index will be 4.81 % at the end of the year, according to its latest weekly forecast report.