Brazilian inflation weighed in at 0.19% for the month of September, little changed from 0.16% in August, for a 12-month rate of 2.54%, the Brazilian Census Bureau (IBGE) said Friday. The 12-month rate was only slightly higher than the 2.46% posted as of August but was far below calendar 2016 inflation of 6.3%. September showed food prices in decline, with fuel costs and household products rising slightly. Inflation is far below the government’s 4.5% target for 2017. Inflation has eased this year due to several factors, including effects on demand from a two-year recession. A record grain and oilseeds crop has also contributed as well as stable foreign exchange rates. Economists expect inflation to end the year below the 3.0% mark, with a slight rise in the rate next year.
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