Brazil's annual consumer inflation slows to 4.68% in November

Consumer price index increases 0.28% on monthly basis

By Ovunc Kutlu

ISTANBUL (AA) - Brazil's annual consumer inflation slowed to 4.68% in November, down from the same month of last year, according to figures released Tuesday.

The figure came in slightly lower than market estimates of 4.7%, while slowing its pace from the 4.82% annual increase seen in October.

On a monthly basis, however, the consumer price index rose 0.28%, also coming in lower than market expectations of 0.3%, but up slightly from the 0.24% year-on-year gain in October.

Prices for six of the total nine groups of products and services increased in November, the Brazilian Institute of Geography and Statistics said in a statement.

The largest monthly increase was seen in food and beverages with a gain of 0.63%, it said.

Brazil's central bank last month lowered its interest rate by another 50 basis points to 12.25% — its third consecutive rate cut since August.

Kaynak: