Inflation Rate of Brazil Worsening

Brazil’s official inflation indicator IPCA closed at 6.5 percent in 2011, up from 5.91 percent in 2010, the government’s statistics agency said Friday.

It was the highest inflation rate registered since 2004, but didn’t surpass the upper limit of the inflation target set for 2011, according to the Brazilian Institute of Geography and Statistics (IBGE).

The IPCA index dropped to 0.5 percent in December from 0.52 percent in November, whereas it stood at 0.63 percent in the same period in 2010.

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