Brazil Inflation Slows

Brazil’s annual inflation slowed in November, dropping to 3.02% from 3.26% in October, as measured by the IPCA index. On a monthly basis, the index rose 0.31% compared with 0.33% in the previous month according to the IGBE, the national statistics bureau. Inflation for the first 11 months of the year was 2.65%, versus 5.31% for the same period last year. Big risers during the month were foodstuffs (1.05%), cigarettes (4.63%); the costs of fuels, electricity and medicine fell.