Brazil Annual Inflation At 12-Year High In November

(RTTNews) - Brazil's consumer price inflation quickened at a faster-than-expected pace in November to the highest level in twelve years, preliminary figures from the statistical office IBGE showed Wednesday.

The consumer price index rose 10.48 percent year-over-year in November, faster than the 9.93 percent percent climb in October. Economists had expected the inflation to accelerate to 10.42 percent.

The latest rate of inflation was the highest since November 2003, when prices grew 11.02 percent.

On a monthly basis, consumer prices increased 1.01 percent in November, exceeding economists' expectations for a 0.95 percent spike. In October, prices had risen 0.82 percent.

Moreover, the recent monthly inflation was the strongest since November 2002, when prices climbed 3.02 percent.