Brazilian Inflation Is The Highest in 6 Years

Brazilian inflation numbers were released this morning. The huge boom in the country is reflected in the country's IPCA index, which shows that inflation was the highest of the last 6 years, adding to the government pressure to raise interest rates.

The IPCA measures inflation for those earning up up 40 minimum wages (about $13k/mo) in metropolitan areas.

However, the IGP-M, computed by the prestigious Getulio Vargas foundation, and which includes wholesale and consumer prices, shows a much higher number overall, but slightly off the peak in November.: