RIO DE JANEIRO, Jan. 11 (Xinhua) -- Brazil ended 2024 with an inflation rate of 4.83 percent, exceeding the target set by the National Monetary Council of 3 percent as well as the upper limit of 4.5 percent, the Brazilian Institute of Geography and Statistics (IBGE) said on Friday.
The Broad Consumer Price Index rose by 0.52 percent in December last year, bringing the cumulative annual increase to 4.83 percent, higher than the 4.62 percent recorded in 2023, according to the IBGE report.
Prices across all nine categories measured by the IBGE saw increases last year. The food and beverages category registered the highest rise at 7.69 percent, exerting the greatest impact on the index. The IBGE attributed this surge to "adverse weather conditions during various periods of the year in different regions of the country."
Significant price hikes were also observed in health and personal care (6.09 percent) and in transportation (3.30 percent), contributing 0.81 percentage points and 0.69 percentage points respectively to the overall index.
For 2025, the National Monetary Council has maintained the inflation target of 3 percent with an upper limit of 4.5 percent. However, the financial market predicts a rate of 4.99 percent. ■
