Brazil’s annual inflation rate climbed to 4.58% in September 2026, up from 4.22% in August and slightly above market expectations of 4.50%. The pickup in inflation was driven primarily by faster price increases in several categories: food and beverages (4.66% vs. 3.53%), household articles (2.08% vs. 1.40%), clothing (3.34% vs. 3.25%), transport (3.94% vs. 3.04%) and communication (2.79% vs. 1.96%).
Transport inflation, in particular, was boosted by higher vehicle fuel prices, which rose 4.97% after a 4.41% gain in August, reflecting the impact of surging international oil prices amid heightened tensions in the Middle East.
In contrast, price growth eased in housing (4.22% vs. 4.90%), health and personal care (5.75% vs. 5.84%), personal expenses (5.90% vs. 6.16%) and education (5.95% vs. 5.98%).
On a monthly basis, consumer prices increased 0.82% in September, rebounding from a 0.32% decline in August. So far this year, inflation has reached 3.95%.
