MercoPress. South Atlantic News Agency
Inflation in Brazil edges up in February to an annualized 5.68%
Rising costs of school tuition was a decisive element in February Inflation edged up in Brazil in February to hit an annualized rate of 5.68%, following a 0.69% monthly rise in February, national statistical office IBGE said Wednesday.
The monthly increase followed on from a 0.55% rise in January for a 1.24% hike over the two months.
Those numbers suggest the government will miss its underlying target of 4.5% for 2014, though the upper limit of Brasilia's target range is two percentage points higher.
Last year's rise in February was 0.6% on the way to a 5.91% rate for 2013 as a whole.
The rising cost of school tuition, up 7.64%, was a major element behind the latest jump.
The government last month responded by raising its key interest rate by 25 basis points to 10.75% to rein in rising prices, which come at a time of moderate growth with GDP having risen 2.3% in 2013. This year, the markets forecast a rise of just 1.68%.
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Read all commentsSure, as they say here “ Me engana que eu gosto” (translation : kid me because I like it). They never report the REAL numbers, definitely higher....just look at the supermarket bill week after week, take a look at your insurance premiums, the price of gasoline, you name it....5.91% my ass !!
Mar 14th, 2014 - 04:23 pm 0Quite frankly, the higher their “key interest rate” , or their “prime rate”, known as the SELIC, the better...Investments get better returns, and maybe the poorer classes will wake up and stop supporting this self-serving, corrupt government.
Inflation is calculated taking into account an average of price developments. Not the “price”. And more....“Me engana que eu gosto” is something of northeastern from Bahia!
Mar 14th, 2014 - 09:52 pm 0The lower classes in Brazil use ignorant forms of communication, where the translation is impossible.
Or you're poor, or you already live a long time in Brazil.
Maybe GeoffWard in devil skin.
I dont know.........i like this!!
Inflation does not take into account ONLY the average prices of certain, pre-determined goods, or services, over a period, but money printed by the government to cover it's excess spending....
Mar 15th, 2014 - 07:53 pm 0“Me engana que eu gosto” is NOT an expression exclusive to Bahia or the northeast....it is widely used all over Brazil, by people who can see through the lies perpetrated by the government.
The lower classes in Brazil use the forms of communication they are able to....but I don't see what the hell this has to do with the present discussion - other than you are implying that they are NOT informed, or they are MISINFORMED, which is probably more correct.
“Or you're poor, or you already live a long time in Brazil”....I am not poor, and I've lived in Brazil probably longer than you have been alive.... I am not GeoffWard.
You don't know much of anything.....and you like it...good for you, birdbrain.
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