The consumer price index in Brazil rose 2.84% in February from a year before, losing strength from the previous month when the index increased 2,86%, according to the country’s statistics office (IBGE).
It was the slowest annual inflation rate since November, when the consumer price index rose 2.80%. Analysts expected a 2.82% annual inflation.
On a monthly comparison, the Brazilian consumer price index increased 0.32% in February – the smallest increase for that month since 2000, when monthly inflation was at 0.13%. In January, the index grew 0,29%. So far in 2017, the inflation rate in Brazil is up 0,61%.
The annual inflation target in Brazil ranges from 3% to 6%.
The next monetary policy decision at the Brazilian central bank is scheduled for March 21.