In February, consumer prices in Brazil rose 1.31 percent, higher than expectations, with a 12-month inflation rate of 5.06 percent. Key categories showed varied shifts, particularly in housing and education.
In Brazil, consumer prices increased by 1.31 percent in February, surpassing market expectations, according to the government statistics agency, IBGE. Over the past year, prices have risen by 5.06 percent, a significant increase from 4.56 percent recorded in the previous month.
The breakdown of price changes by category is as follows: Food and beverages saw an increase of 0.70 percent in February, down from 0.96 percent in January; Housing surged by 4.44 percent compared to a decrease of 3.08 percent in the previous month.
Furthermore, household articles rose by 0.44 percent, a rise from 0.09 percent. The apparel category remained stable at 0.00 percent, while transportation costs increased by 0.61 percent, showing a decrease from January’s 1.30 percent. Additionally, health and personal care costs went up by 0.49 percent, compared to 0.70 percent last month.
Personal expenses increased modestly by 0.13 percent, while education costs surged by 4.70 percent, a substantial rise from 0.26 percent in January. Finally, communication services saw a slight increase of 0.17 percent after a decrease of 0.17 percent in the previous month.
In conclusion, February 2023 witnessed a notable rise in consumer prices in Brazil, reaching 1.31 percent, which exceeded analyst predictions. The annual inflation rate increased to 5.06 percent when compared to the previous month’s figure. These statistics indicate shifting price dynamics across various categories, particularly in housing and education, which exhibited significant changes.
Original Source: www.tradingview.com
