Brazil inflation at 6.50 percent in 2011

BRASILIA : Consumer prices in Brazil rose 6.50 percent in 2011, the highest hike since 2004, the state statistics agen

Published January 6, 2012 Updated January 6, 2012 02:43pm

1 min

By Muhammad Iqbal

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The 2011 increase, which compared with the 7.6 percent surge recorded in 2004 and 5.91 percent in 2010, reached the ceiling of the official target.

The government had set an annual inflation target of 4.5 percent, with a ceiling of 6.5 percent.

Prices were up 0.50 percent in December, following a 0.52 percent hike in November, largely due to higher food prices, the Brazilian Geography and Statistics Institute (IBGE) said.

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