Price rises in Brazil slowed more than economists had predicted in the month to mid-October, according to figures from the statistics agency IBGE published on Friday, The Rio Times reports. The data landed just before the weekend's presidential run-off.
The IPCA-15 index, an early guide to the official rate, rose 0.32% in the month against a forecast of 0.43%. Annual inflation stood at 4.62%, below the 4.73% expected but up from 4.47% in the previous reading.
Food and drink made the biggest contribution, with tomatoes, onions and potatoes all sharply higher, while fuel prices accelerated, led by diesel. Cheaper electricity helped hold the overall figure down. Brazilian markets close for the weekend and reopen on Monday, when the result of the run-off between President Lula and Flávio Bolsonaro will be known.
Source: The Rio Times
