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Inflation in Brazil
Brazil's inflation from 2013 to 2022 was characterized by volatility, with rates frequently fluctuating between 5% and 10%. Economic and political instability, fluctuating commodity prices, and shifts in fiscal policies largely influenced these changes. High inflation periods were marked by currency depreciation and fiscal deficits. Towards the end of the decade, Brazil faced challenges in controlling inflation, particularly due to the economic impacts of the COVID-19 pandemic and rising global commodity prices.
Consumer price inflation in Brazil averaged 6.2% in the ten years to 2022, below the Latin America regional average of 8.4%. The 2022 average figure was 9.3%. For more inflation information, visit our dedicated page.
Brazil Inflation Chart
Note: This chart displays Inflation Rate (CPI, annual variation in %) for Brazil from 2014 to 2023.
Source: Macrobond.
Brazil Inflation Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Inflation (CPI, ann. var. %, aop) | 3.7 | 3.2 | 8.3 | 9.3 | 4.6 |
| Inflation (CPI, ann. var. %, eop) | 4.3 | 4.5 | 10.1 | 5.8 | 4.6 |
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Brazilian inflation projections for the next ten years from a panel of 38 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Brazilian inflation.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Brazilian inflation projections.
Want to get access to the full dataset of Brazilian inflation forecasts? Send an email to info@focus-economics.com.
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