Brazil’s inflation rate continued its decline in January as costs for items such as housing and clothing fell in absolute term, the Brazilian Census Bureau (IBGE) said Thursday. Monthly inflation fell back to 0.29% from 0.44% in December. The 12-month rate declined from 2.95% to 2.86%. Food and fuel prices rose in January, spelling possible inflationary pressures in the coming months, but items such as clothing and housing declined. Economists are expecting an uptick in inflation later in the year as consumer demand rises in the face of a broad economic recovery. The Central Bank is forecasting 2018 inflation of 3.9%.
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