Brazil's consumer price inflation eased for the fourth straight month in October to reach its lowest level in more than one-and-a-half years, figures from the Brazilian Institute of Geography and Statistics, or IBGE, showed on Thursday.
The consumer price index climbed 6.47 percent year-over-year in October, slower than the 7.17 percent rise in September. Economists had expected inflation to ease to 6.34 percent.
Moreover, this was the lowest inflation rate since March last year, when prices had risen 6.10 percent.
Nonetheless, the latest rate was still well above the central bank's current inflation target of 3.50 percent.
At last week's policy meeting, the central bank kept its inflation outlook unchanged at 5.8 percent, raising the forecast for next year to 4.8 percent.
On a monthly basis, consumer prices moved up 0.59 percent in October, reversing a 0.29 percent fall in the previous month.
This was the first increase in four months. The expected increase was 0.48 percent.
Prices grew most in food and drinks by 0.72 percent over the month, and transport costs rose 0.58 percent.
