IPCA: Inflation is Becoming More Bothersome Again

BRAZIL ECONOMICS - Report 07 Nov 2013 by Marcelo Gazzano, Cristina Pinotti and Affonso Pastore
As expected, the IPCA for October accelerated, reaching 0.57%, after registering 0.35% the month before. Since the monthly rate was very near that of October last year, the accrued 12-month variation changed very little, falling from 5.86% to 5.84%. The acceleration in October was mainly caused by two categories, foods and beverages (from 0.70% to 1.03%) and clothing (from 0.88% to 1.13%). The benign phase of inflation now looks to be over, and the effects of the weaker exchange rate, unfavorable seasonal factors and the prices of services, which are still under strong pressure, make furthe...

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