According to data released by the Brazilian Institute of Geography and Statistics (IBGE) on Wednesday, Brazil's inflation rate for consumer prices witnessed an uptick in September after a decline in the previous month. The consumer price index recorded a 4.42% year-over-year increase in September, surpassing the 4.24% rise noted in August. Economists had projected a more moderate inflation rate of 4.43%.
Yearly price increments in the category of food and non-alcoholic beverages accelerated to 5.86% in September compared to 4.59% in August. In contrast, health costs experienced a slower growth rate, advancing by 6.14%. Meanwhile, the rise in transport costs slowed, decreasing to 3.22% from 4.53%.
On a month-to-month comparison, consumer prices rose by 0.44%, rebounding from a slight 0.02% dip in August. This represents the most significant monthly increase within the last four months. The monthly escalation in prices was primarily driven by higher expenditures on housing, as well as food and beverages.
