December 10, 2024 12:13 GMT
CORRECTED-MNI BRIEF: Brazil Inflation Rises To 4.87% In Nov
Brazil's IPCA inflation measure was released on Monday.
MNI (BRASILIA) - (Corrects consensus figure for annual reading)
Brazil's IPCA inflation measure rose by 0.39% in November, in line with the 0.38% consensus and down from 0.56% in October, driven by higher food costs, the Brazilian Institute of Geography and Statistics (IBGE) said Tuesday.
On an annual basis, prices rose 4.87%, up from 4.76% inflation in October. The consensus was for 4.85%.
"The increase in food prices was mainly driven by meat, which rose by over 8% in November. A reduced supply of animals for slaughter and higher export volumes decreased the product's availability," IBGE said. (See MNI INTERVIEW: Copom To Accelerate Rate Hike Pace To 100BP)
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