Brazil's official inflation rate, measured by the Broad National Consumer Price Index (IPCA), was 0.38% in January.

With the result, published by the Brazilian Institute of Geography and Statistics (IBGE) on Feb. 8, the cumulative 12-month IPCA rate in the past 12 months was 5.35%, less than the 6.29% reported for the 12 months ending in December 2016.