Brazil Inflation Eases To 4.68%

(RTTNews) - Brazil's consumer price inflation moderated in October to the lowest level in nine months, figures from the Brazilian Institute of Geography and Statistics, or IBGE, showed on Tuesday.

The consumer price index climbed 4.68 percent year-over-year in October, slower than the 5.17 percent rise in September.  

Further, this was the lowest inflation rate since January, when prices rose 4.56 percent. The expected increase was 4.75 percent.

Nonetheless, the inflation rate continued to remain above the central bank's upper tolerance band of 4.5 percent.

Prices for food and non-alcoholic beverages grew 5.5 percent annually, though slower than the 6.61 percent rise in September. Housing costs also increased 4.36 percent, and transportation charges were 3.69 percent higher.

On a monthly basis, consumer prices edged up 0.09 percent versus a 0.48 percent increase in September.