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Brazil full-year inflation for 2018 3.75 percent

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Staff Writer |
Brazil manufacturing
LatAm   Manufacturing in Brazil

Brazil's 2018 inflation rate averaged a mild 3.75 percent, lower than the official target of 4.5 percent and within the tolerance range of 3 to 6 percent, statistical authorities said.

However, it is higher than the 2017 inflation rate of 2.95 percent, which was the lowest since 1999, said the Brazilian Institute of Geography and Statistics (IGBE).

The increase in price levels in 2018 was led primarily by household services, transportation and food, the institute said.

Inflation was at 0.15 percent in December, the lowest for the month since 1994.

The institute said the inflation could have been lower last year, had it not been affected by the truckers' strike at the end of May.

"The strike had a one-off effect in June," causing a 1.26-percent increase in inflation, the institute said.

Market analysts have projected that prices will increase 4.01 percent in Brazil in 2019.

The government has set an official inflation target of 4.25 percent for 2019, with a tolerance range of 2.75 to 5.75 percent.

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