Brazil's Inflation Rises Past 10% to Six-Year High - Statistics Office

BUENOS AIRES (Pakistan Point News / Sputnik - 11th January, 2022) Brazil saw consumer prices rise by 10.06% in 2021, the highest inflation in six years, according to estimates released on Tuesday by the national statistical institute.

"Inflation closed the year 2021 with a 10.06% rise. This is the highest end-of-the-year rate since 2015 when it was 10.67%," the Brazilian Institute of Geography and Statistics said in a statement.

Inflation ran at more than double the 2020 year's 4.5% rate, far off the government's target of 3.75%. It sped up by 0.95% in November before the rise slowed down to 0.73% in December.

All products and services were affected, although the largest price hike was reported in the transport sector (21.03%), followed by housing (13.05%), and food and drinks (7.94%). Transport costs were driven by a rise in fuel prices, according to Pedro Kislanov, the institute's manager in charge of inflation statistics.