Brazil’s annual inflation in April was the highest in more than eleven years, data from the statistical office IBGE showed Friday.
The consumer price index rose 8.22 percent year-on-year, which was the highest since January 2004, when it was 8.46 percent.
Economists had forecast an inflation figure of 8.17 percent. In February, inflation was 7.14 percent.
Month-on-month, the CPI climbed 1.07 percent in April, marking the highest rate for the month since 2003, when it was 1.14 percent. In February, monthly inflation was 1.24 percent.
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