FX.co ★ Brazil Inflation Slows To 4.65%, Lowest In 26 Months

Brazil's consumer price inflation eased for the ninth straight month in March to reach its lowest level in more than two years, figures from the Brazilian Institute of Geography and Statistics, or IBGE, showed on Tuesday.

The consumer price index climbed 4.65 percent year-over-year in February, slower than the 5.60 percent rise in February. Economists had expected inflation to ease to 4.70 percent.

This was the lowest inflation rate since January 2021, when prices had risen by 4.52 percent.

Moreover, inflation stayed within the central bank's target range of 1.75 percent to 4.75 percent for the first time in over two years.

Food price inflation eased to 7.29 percent in March from 9.84 percent in February.

In addition, the continuous 1.61 percent drop in transportation costs was largely attributable to the lower inflationary trend.

On a monthly basis, consumer prices moved up 0.71 percent in March, following a 0.84 percent rise in the previous month. The expected increase was 0.78 percent.