Image Credit: riotimesonline

On Friday, the central bank of Brazil stated that the country’s economic activity has grown by 3.4% over the past 12 months through October. The IBC-Br Index of Economic Activity, a leading indicator of output growth, which is used as a reference for the central bank’s Monetary Policy Committee to adjust basic interest rates, rose only by 0.1% month-on-month in October 2024 (on a seasonally adjusted basis). This marks the fourth consecutive month of growth.

The Central Bank said that inflation reached 4.87 percent for the 12 months ending November, exceeding the central bank’s official target of 3 percent.

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