Brazil Inflation Rises to 4.63% in October, Above Central Bank’s Target Range

Consumer prices in Brazil rose 4.63 percent in October, up from 4.58 percent in September.

The Brazilian central bank’s inflation target is 3 percent, with a tolerance range of 1.50 percentage points above and below that level. The upper limit is therefore 4.50 percent.

However, the average forecast among analysts for October inflation in Brazil was even higher, at 4.74 percent, according to Bloomberg.