Data from Brazil's Consumer Price Index (IPCA) published by the Brazilian Institute of Geography and Statistics (IBGE)

Brazil's 2024 Inflation Hits 4.83%, Exceeding 4.5% Target Ceiling

Jan 10, 2025, 12:10 PM

Brazil's Consumer Price Index (IPCA), the country's official measure of inflation, rose 0.52% in December, below market expectations of 0.53% and projections by BTG Pactual of 0.56%. This brought the annual inflation rate for 2024 to 4.83%, below projections yet exceeding the central bank's target ceiling of 4.5% set by the National Monetary Council (CMN). In 2023, the inflation rate was 4.62%, within the target range after two consecutive years of exceeding it. The rise in inflation was driven in part by a surge in food prices. The National Consumer Price Index (INPC), measuring inflation for low-income households, rose 4.77% in 2024.