Brazil inflation slows to 0.14 percent in October

Brazil's IPCA consumer price index rose 0.14 percent in October 2026, down from 0.82 percent in September, as cheaper electricity and airfares offset a faster rise in food prices, IBGE reported.

Why it matters: The sharp monthly slowdown relieves pressure on the central bank, but 12-month inflation edged up to 4.63 percent, still above the 4.5 percent top of the tolerance band around Brazil's 3 percent target.

Data as of IBGE release of November 12, 2026, in Portuguese, read in full. All figures are from the release itself. Developing item.

Brazil’s IPCA inflation rate slowed to 0.14 percent in October 2026 from 0.82 percent in September, the national statistics institute IBGE reported on Thursday. Prices rose 4.10 percent in the first ten months of the year, and the 12-month rate edged up to 4.63 percent from 4.58 percent in the 12 months to September.

Food and beverages posted the largest increase of any group, rising 1.04 percent and contributing 0.22 percentage points, as food at home accelerated to 1.31 percent on a 19.57 percent jump in tomato prices and an 11.29 percent rise in onions. Transport fell 0.59 percent, as airfares dropped 9.21 percent after rising 9.66 percent in September, and housing fell 0.51 percent, as residential electricity prices fell 1.92 percent with the move to the green tariff flag, which carries no surcharge on bills.

Brazil inflation slows to 0.14 percent in October

Sources