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LatinNews Daily - 12 October 2022
In brief: Brazil registers third month of deflation
* Brazil’s national statistics institute (Ibge) has released the latest consumer price index (IPCA), which shows monthly deflation of 0.29% in September – the third consecutive fall in consumer prices this year, after the declines of 0.36% in August and 0.68% in July. The last time that Brazil registered three consecutive months of deflation was in 1998. Annual inflation stood at 7.17% last month, down on the 8.73% annual rate registered in August. The IPCA contraction was driven by a drop of 1.98% in transportation costs, a category that includes fuel prices, which decreased 8.5% in September. The category of communication services also registered a decline of 2.08% last month. The highest increases were reported in the categories of apparel (1.77%) and personal expenses (0.95%).
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