Brazil Records Fastest Inflation for September in 17 Years
- September inflation +0.64% m/m and +3.14% y/y: stats agency
- Central bank is seen holding the key rate later this month
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Brazil’s consumer inflation recorded its fastest pace for the month of September since 2003 as food and fuel prices rose, supporting the case for the central bank to keep its key rate unchanged later this month.
The benchmark IPCA index rose 0.64% from August, above the 0.54% median estimate in a Bloomberg survey of economists. Annual inflation accelerated to 3.14%, below this year’s 4% target, the national statistics agency reported on Friday.