Inflation in Brazil is 5th highest in Latin America

  • Camilla Veras Mota – @cavmota
  • From BBC Brazil in Sao Paulo

Gas station with poster advertising fuel at R$6

Credit, Getty Images

photo caption,

More expensive oil pushed fuel prices up

Inflation once again crossed the double-digit mark in Brazil in 2021, something that has not happened since 2015.

According to data released by the Brazilian Institute of Geography and Statistics (IBGE) this Tuesday (1/11), between January and December of last year the Broad Consumer Price Index (IPCA) reached 10.06%.

The country is far from the only one facing a problem of widespread price increases. In the United States, Europe and Latin America itself, central banks – which are usually responsible for trying to contain inflation using the interest rate mechanism – have seen inflation indicators grow much more than they imagined.

In Brazil, however, domestic factors added to external drivers and contributed to the country registering one of the highest inflations in the region.

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