Inflation dropped to 0.25%
Brazil’s Extended National Consumer Price Index slid by 0.08 percentage point in March from February to the lowest rate on record for the month since 2012.
Rio de Janeiro – Inflation in Brazil as per the Extended National Consumer Price Index (IPCA) was 0.25% in March, down 0.08 percentage point from 0.33% in February, and the lowest on record for the month since 0.21% in March 2012.
The result drove quarter-one inflation to 0.96%, the lowest rate on record since the country’s last currency change. In quarter one 2016, IPCA was 2.62%. In the 12 months ended March, inflation was 4.57%.
IPCA numbers were released this Friday (7) in Rio de Janeiro by the Brazilian Institute of Geography and Statistics (IBGE). The index is the parameter based on which the Brazilian Central Bank steers inflation toward its target range. In March 2016, IPCA had climbed by 0.43%.
*Translated by Gabriel Pomerancblum