Friday, January 11, 2008

Brazilian inflation accelerates

From Bloombergs:

Brazilian consumer prices had their biggest monthly increase in more than two years in December, raising concerns the central bank will be unable to lower interest rates further in Latin America's biggest economy.

Consumer prices, as measured by the IPCA index, jumped 0.74 percent in December, the biggest increase since October 2005, the national statistic agency said. The gain, fueled by food prices, was almost twice the 0.38 percent increase in November and pushed the annual rate to 4.46 percent