Floods, drought push Brazil inflation over target in 2024

Rio De Janeiro (AFP) Jan 10, 2025
Brazil closed 2024 with annual inflation at 4.83 percent, pushed above target by higher food prices after a year in which crops were hard hit by floods and drought, official data showed Friday. The central bank last month warned two more interest rate hikes were likely in the coming months as inflation remained above the upper tolerance threshold of 4.5 percent. This is likely to further