Brazil’s inflation rate of 1.62 percent in March was the highest for the same period since 1994

2022-08-04 0 By

Brazil’s inflation rate rose to 1.62 percent in March, the highest since 1994, up from 1.01 percent in March and 0.93 percent in The same period last year, the national Geographic Statistics Institute (IBGE) said Wednesday.According to the data, gasoline prices in Brazil rose by 6.95% in March, contributing to a 3.02 percent increase in transportation prices for the month and a general increase in other commodity prices.Second, food and beverage prices rose 2.42 percent.The price of carrots rose 31.47 percent, that of tomatoes 27.22 percent, that of milk 9.34 percent, and that of fruit 6.39 percent.In addition, clothing prices rose 1.82 percent, housing costs rose 1.15 percent, health and personal care rose 0.88 percent, personal expenses rose 0.59 percent, household goods rose 0.57 percent, and education prices rose 0.15 percent.However, communications prices have fallen.The data also showed inflation running at 3.2 per cent in the first quarter of the year.Over the past 12 months, inflation has run at 11.3 per cent, up from 10.54 per cent in the previous 12 months and more than double the 5 per cent ceiling of the government’s target for inflation this year.By city, Curitiba had the highest inflation rate over the past 12 months, at 14.37%.St. Louis followed with 12.22 percent.Third is Goiania with 12.18 per cent inflation.Inflation was 11.04% in Sao Paulo, 11.03% in Rio de Janeiro and 9.53% in Brasilia, Brazil’s largest city.According to the latest forecasts in Brazil’s financial markets, inflation is expected to be 6.86% this year and 3.8% next, respectively, higher than the government’s median target of 3.5% and 3.25%.Inflation was 10.06 per cent last year, the highest since 2015.