Brazil records 0.71% inflation in March
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Brazil recorded inflation of 0.71 per cent in March, lower than the 0.84 per cent in February and less than half of the 1.62 per cent in March 2022, the Institute of Geography and Statistics reported.
So far, the South American country has accumulated 2.09 per cent inflation for the year, while in the last 12 months through March it reached 4.65 per cent, the lowest in the same comparison since January 2021 (4.56 per cent), reports Xinhua news agency.
Of the nine groups of products and services analyzed in March, eight recorded price hikes, while household items showed a 0.27 per cent decrease.
Meanwhile, the financial market expects inflation to reach 5.98 per cent for 2023, above the target limit set by the Central Bank of Brazil, which is 3.25 per cent with a margin of tolerance of 1.5 percentage points.
