Brazil’s Prices Rise More Than Expected for Eighth Month
February 22, 2013 by Avila Capital Markets, Inc.
Brazil’s inflation in mid-February exceeded economists’ expectations for an eighth consecutive month, adding pressure on the central bank to raise interest rates. Swap rates rose.
Prices as measured by the IPCA-15 price index rose 0.68 percent from Jan. 16 through Feb. 14, the national statistics agency said today. The median estimate from 38 analysts surveyed by Bloomberg was for a 0.62 percent increase. Annual inflation accelerated to 6.18 percent from 6.02 percent the previous month.
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