November 23, 2016 / 12:32 PM / 2 years ago

UPDATE 2-Brazil inflation hits lowest for mid-November since 2007

(Adds central bank context)

BRASILIA, Nov 23 (Reuters) - Consumer prices in Brazil rose in the month to mid-November at their slowest pace for the period since 2007, as food and apparel prices edged lower, government data showed on Wednesday.

The IPCA-15 consumer price index rose 0.26 percent in the month to mid-November, up from 0.19 in the previous month. The index had been expected to rise 0.28 percent, according to the median forecast in a Reuters poll.

In the 12 months through mid-November, prices rose 7.64 percent, easing from an increase of 8.27 percent in mid-October.

The official inflation target is 4.5 percent. Economists see that goal within reach next year, when the economy is expected to stage growth of about 1 percent after a severe recession.

Yields on interest rate futures <0#2DJI:> fell slightly following the IPCA-15 results, on the view of further interest rate cuts by the central bank.

Economists expect the bank to lower its benchmark interest rate by at least 25 basis points on Nov. 30.

In the month to mid-November, food prices fell 0.06 percent, the IBGE said. Apparel prices slipped 0.03 percent, IBGE said. (Reporting by Silvio Cascione Editing by W Simon)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below