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MNI BRIEF: Brazil Inflation A Sliver Higher Than Consensus


Brazil's IPCA inflation was 0.83% in February, the Brazilian Institute of Geography and Statistics (IBGE) said on Tuesday, announcing a figure that was slightly higher than the 0.79% consensus forecast.

In annual terms, prices rose 4.50%, from 4.51% in January, by a sliver the fifth consecutive monthly deceleration in the annual series.

"Of the nine product and service groups surveyed, seven experienced an increase in February. The highest variation (4.98%) and the greatest impact (0.29 percentage points) came from Education. Other highlights included the groups of Food and beverages (0.95% and 0.20 percentage points) and Transportation (0.72% and 0.15 percentage points). The remaining groups ranged from -0.44% for Clothing to 1.56% for Communication," IBGE said. (See MNI INTERVIEW: BCB Likely To Keep Cuts Guidance -Schwartsman)

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