Brazil Inflation Rises To 5.17%

(RTTNews) - Brazil's consumer price inflation increased slightly in September after easing in the previous two months, figures from the Brazilian Institute of Geography and Statistics, or IBGE, showed on Thursday.

The consumer price index climbed 5.17 percent year-over-year in September, following a 5.13 percent rise in August, which was the lowest inflation rate in six months. The expected increase was 5.22 percent.

Moreover, the inflation rate continued to remain above the central bank's upper tolerance band of 4.5 percent.

Prices for food and non-alcoholic beverages grew 6.61 percent annually, and housing costs also increased notably by 6.24 percent. Data showed that transportation charges were 3.18 percent higher.

On a monthly basis, consumer prices rebounded 0.48 percent versus a 0.11 percent decrease in August. The monthly rise in inflation was mainly driven by housing costs amid higher electricity prices.