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MNI BRIEF: Brazil's October IPCA Inflation Up To 4.76%

The increase was driven once again by energy, the Brazilian Institute of Geography and Statistics said.
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MNI (BRASILIA) - Brazil's IPCA inflation measure was 0.56% in October, above the 0.53% consensus and up from 0.44% in September, driven once again by higher energy costs, the Brazilian Institute of Geography and Statistics (IBGE) said Friday.

On an annual basis, prices rose 4.76%, up from 4.42% inflation in September. The consensus was for 4.74%. "In October, the red level 2 tariff was in effect, adding R$7.87 for every 100 kWh consumed, while in September, the red level 1 tariff was in effect, adding approximately BRL4.46," IBGE said. (See MNI BCB WATCH: Hawkish Copom Tone Hints At More 50BP Hikes)

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MNI (BRASILIA) - Brazil's IPCA inflation measure was 0.56% in October, above the 0.53% consensus and up from 0.44% in September, driven once again by higher energy costs, the Brazilian Institute of Geography and Statistics (IBGE) said Friday.

On an annual basis, prices rose 4.76%, up from 4.42% inflation in September. The consensus was for 4.74%. "In October, the red level 2 tariff was in effect, adding R$7.87 for every 100 kWh consumed, while in September, the red level 1 tariff was in effect, adding approximately BRL4.46," IBGE said. (See MNI BCB WATCH: Hawkish Copom Tone Hints At More 50BP Hikes)

Keep reading...Show less