Brazil’s consumer price index rises
The consumer price index in Brazil increased in August, according to figures from the Brazilian Geography and Statistics Institute.
In news which may be of interest to people considering looking for property in Brazil, it is reported by Merco Press that the index rose by 0.28 per cent.
At the end of August 2008, the index reached 4.48 per cent, compared to 2.8 per cent in the same period in 2007.
It is reported that the central bank has set a target to hit 4.5 per cent by the end of the year.
The Brazilian Central bank has recently "toughened" its monetary policy, which may affect real estate in the country, in the hope of containing inflation.
Currently, the base rate stands at 13 per cent, but is expected to rise by 0.75 per cent on September 10th at the next meeting of the monetary council.
Brazzilmag.com also reports that the country’s agribusiness exports are set to reach US$ 74.4 billion (£42.2 billion) by the end of the tear.
