Brazilian consumers caught in inflation

Cincinnati Sun Sunday 12th February, 2012

Brazilian consumer prices have increased 0.56% over the past month.

The January rises were the fastest in nine months with Brazilian consumers having to pay more for transport, food and drink costs.

Food and beverage prices showed the largest increase.

According to the figures from the national statistics agency, prices increased 0.56% from December.

The Brazilian central bank is curently trying to get inflation back into its target range of 4.5%.

There have been suggestions that the central bank will cut its benchmark rate by 0.5 percentage point for a fifth straight meeting in March to 10%.