Monthly inflation falls in Brazil, yearly rate up

Brazilian inflation slowed for the second straight month in February despite interest rates remaining at an all-time low.

The IPCA consumer price index, which measures monetary-policy relevant inflation, rose by 0.49% in February, down from 0.54% in January and 0.74% in December.

However, year-on-year inflation increased slightly to 4.61% from 4.56% for the 12 months to January. It is the second month that inflation has remained above the central bank's 4.5% target.

The Central Bank of Brazil

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