Brazil February Inflation Rises More Than Expected
Brazil's consumer price inflation accelerated more than economists expected in February, data released by statistical office IBGE showed Friday.
Inflation as per the consumer price index increased to 6.31 percent in February from 6.15 percent in January, while economists had forecast a more modest acceleration to 6.2 percent.
The consumer price index moved up 0.6 percent compared to January, when it rose by 0.86 percent. Economists were looking for a 0.49 percent gain, data showed.
Food and beverages prices rose at a slower pace of 1.45 percent month-on-month in February than 1.99 percent in the previous month. Housing costs dropped 2.38 percent, after falling 0.2 percent in January.
Transportation costs were higher by 0.81 percent from the previous month, and costs of wearing apparel up by 0.55 percent, data showed.
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