Brazil's inflation climbs to 5.48% in March, hitting one-year high

Brazil’s inflation rate saw a significant rise in March, reaching 5.48 per cent, up from 5.06 per cent in February, according to data from the Brazilian Institute of Geography and Statistics (IBGE).

This marks the highest inflation rate the country has experienced since February 2023, Caliber.Az reports via Russian media. 

The increase in March was in line with analyst expectations, Trading Economics noted. This marks the second consecutive month of accelerating inflation in Brazil. The rise in consumer prices was driven largely by a 7.68 per cent jump in food and beverage costs, along with a 6.05 per cent increase in transportation services.

Prices for clothing rose by 3.53 per cent, while goods for health and personal care saw a 5.79 per cent increase. In terms of monthly changes, consumer prices in Brazil rose by 0.56 per cent in March, a slowdown compared to the 1.31 per cent increase recorded in January.

By Naila Huseynova