Brazil recorded inflation of 0.71 percent in March, lower than the 0.84 percent in February and less than half of the 1.62 percent in March 2022, Brazilian Institute of Geography and Statistics reported Tuesday.
So far, the South American country has accumulated 2.09 percent inflation for the year, while in the last 12 months through March it reached 4.65 percent, the lowest in the same comparison since January 2021 (4.56 percent).
Of the nine groups of products and services analyzed in March, eight recorded price hikes, while household items showed a 0.27 percent decrease.
Meanwhile, the financial market expects inflation to reach 5.98 percent for 2023, above the target limit set by the Central Bank of Brazil, which is 3.25 percent with a margin of tolerance of 1.5 percentage points.