Brazil’s inflation level reaches year low
People considering buying property in Brazil could be interested to hear the nation’s inflation rate has fallen to a one-year low, it has been reported.
Brazil’s National Consumer Price Index (IPCA) fell to 0.26 per cent in September, according to the Xinhua news agency.
The figure was down from 0.28 per cent in August but up from 0.18 per cent compared to the same time last year, it was revealed by figures released by the Brazilian Institute of Geography and Statistics (IBGE) on Wednesday (October 8th).
According to the report, experts said the food sector’s deflation would have had a bigger impact if it was not for other sectors that registered sharp price increases during the course of the month.
The report noted the accumulated figure so far this year stands at 4.76 per cent and the government has set an inflation target of 4.5 per cent for 2008.
Meanwhile, it was reported by the Brazil Arab News Agency this week that state oil firm Petrobras’ new platform has created thousands of new jobs.
