IPCA: Official inflation starts the year with a rise of 1,24%
Inflation, as measured by the Broad Consumer Price Index (IPCA), which serves as a benchmark for the inflation targets set by the Central Bank, closed January with a variation of 1,24%, a result 0,46 percentage points higher than the 0,78% recorded by the indicator in December of last year; the IPCA had its highest increase in more than a decade.
Nielmar de Oliveira - Reporter for Agência Brasil
Inflation, as measured by the Broad Consumer Price Index (IPCA), the country's official inflation rate and a benchmark for the inflation targets set by the Central Bank, started the year on an upward trend, closing January with a variation of 1,24%, a result 0,46 percentage points higher than the 0,78% recorded by the indicator in December of last year.
The data, released by the Brazilian Institute of Geography and Statistics (IBGE), indicates that, with the January result, accumulated inflation over the last 12 months reached 7,14%, above the government's target ceiling for the IPCA (Broad Consumer Price Index), which is 6,5%. In January 2014, the rate rose 0,55%.
The IPCA (Broad Consumer Price Index) has been calculated by IBGE (Brazilian Institute of Geography and Statistics) since 1980. It refers to families with incomes ranging from one to 40 minimum wages and covers the ten main metropolitan regions of the country, in addition to the municipalities of Goiânia, Campo Grande, and Brasília.
IPCA sees its biggest increase in over a decade.
The 1,24% increase recorded in January in the Broad Consumer Price Index (IPCA) is the highest rise since February 2003, when it stood at 1,57%. In December of last year, the rate was 0,78%, and in January 2014, it was 0,55%.
The data relating to the IPCA were released today (6), by the Brazilian Institute of Geography and Statistics.
The accumulated result for the last 12 months – 7,14% – is also the highest since September 2011, when annualized inflation was 7,31%. From January to December 2014, the accumulated increase was 6,41%.