Brazil's inflation in 2010 at six-year high

11:10, January 08, 2011      

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Brazil's inflation reached 5.91 percent in 2010, the highest in six years, its statistics bureau announced Friday.

The rate remained within the inflation target set for last year, which was 4.5 percent with a tolerance of two percentage points.

A statement issued by the IBGE statistics bureau attributed the higher inflation rate to rising food prices, which hiked 10.39 percent from 2009 to 2010. Meat and beans, whose prices rose 29.6 and 51.4 percent respectively, were listed as two main drivers behind the index.

Food products were responsible for 40 percent of the total inflation rate in 2010, and accounted for 23 percent of households' expenses. Non-food products' prices rose 4.61 percent in 2010, down from 4.65 percent in 2009.

Source: Xinhua
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