The official inflation measured by the Broad Consumer Price Index (IPCA) has stood at 0.92% in March. The rate is higher than that observed in the previous month (0.69%) and in March last year (0.47%). According to an update released Wednesday (Apr. 9) by the Brazilian Institute of Geography and Statistics (IBGE), the year-to-date (January-March) rate is 2.18%, to an annualized 6.15%.

Food and beverages accounted for over half the official inflation, with 1.92%. Key inflation drivers in this group include potatoes (35.05%) and tomatoes (32.85%). Similarly, transport costs have had significant influence on inflationary pressures, recording increases of 1.38% – most notably air fares, which have risen 26.49%.