Brazil October inflation rises 0.14%, below market expectations
TLT•Brazil’s IPCA inflation rose 0.14% in October 2026, below the median market forecast. Inflation was 4.1% year to date and 4.63% over 12 months, above the target ceiling.
1. Inflation figures
Brazil’s IPCA inflation rose 0.14% in October 2026, below the median market forecast. Food prices increased 1.31%, while airfares fell 9.21%. Inflation reached 4.1% year to date and 4.63% over 12 months, above the inflation target ceiling.
2. Core and policy outlook
Core inflation slowed to 0.23% from 0.36%, despite stronger underlying industrial goods inflation. The improvement was not seen as warranting renewed Selic adjustments, with currency weakness and external risks remaining key considerations for monetary policy.
