The latest price data show that Brazilian inflation will remain above the government's 4.5% target for the foreseeable future, according to economists at Goldman Sachs. Government data showed the 12-month inflation rate rising to 5.64% as of mid-November from 5.56% as of mid-October. "Core and services inflation remain high and are significantly misaligned for the 4.5% inflation target," they say. As of mid-November, twelve-month core inflation was 5.6% while services inflation was a worrisome 8.1%.
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