Consumer prices in Brazil rose 0.44% month-over-month in the first half of March 2026, exceeding the 0.29% market forecast but slowing from February’s 0.84% increase. All nine product and service categories recorded gains. Food and beverages led the advance with a 0.88% rise, followed by personal expenses at 0.82%. Housing costs were up 0.24% and transportation 0.21%, while the remaining groups ranged from 0.03% (communications) to 0.47% (clothing).
Among the regions, Recife posted the highest rate at 0.82%, followed by Belém (0.68%) and Fortaleza (0.60%). Inflation came in at 0.52% in São Paulo and 0.46% in Rio de Janeiro. On a 12-month basis, consumer prices climbed 3.90%, down from 4.10% in the previous period and remaining below the central bank’s 4.5% upper tolerance band, marking the lowest annual rate since May 2024.
