Pickup in Brazil Inflation Startles Analysts

Pickup in Brazil Inflation Startles Analysts


Brazilian inflation figures have surprised analysts this week by coming in at the top end of projected ranges or higher. Going beyond merely seasonal pressures, prices have risen across the board, reflecting stronger internal demand. The IPCA-15 index almost tripled to 0.70% in December from 0.23% in November, beating Goldman Sachs' forecast of 0.58% and a consensus of 0.60%. That left the 2007 to date IPCA-15 rate at 4.36% compared to 2.96% in 2006, according to the shop. "Inflation is clearly

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