The consumer price index advanced 1.16% in September (the highest value for that month since 1994) and accumulates an increase of 6.90% so far this year, reported the IBGE.
The historical drought that is affecting the operation of hydroelectric plants and forcing the use of more expensive energy sources had a significant weight.
“Eight of the nine items of products and services analyzed rose in September, with a highlight for the housing sector (2.56%), which was driven by the 6.47% increase in the electricity bill”, detailed the institute.
Accumulated inflation in twelve months did not reach double digits since February 2016, when it stood at 10.36%.
The consecutive rise in prices in the largest economy in Latin America has pushed many families into precarious situations, with difficulty coping with the rising cost of basic items such as food and transportation.
The 6.90% of increases accumulated between January and September 2021 far exceeds the official inflation target set at 3.75%, and its ceiling of 5.25%.
Last month, inflation had registered the worst month of August in 21 years, with an increase of 0.87% and inflation at twelve months was 9.68%.
The president of the Central Bank of Brazil (BCB), Roberto Campos Neto, estimated days ago that “September must be the peak of inflation in 12 months” and then “a fall” will begin.
The market expectation is that inflation will reach 8.51% by the end of this year, according to the latest Focus survey published by the BCB.
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