RIO DE JANEIRO, BRAZIL - The 2021 rate more than doubled the 2020 figure (4.52%) and was well above the 3.75% target set by the Central Bank for the year, although the margin of tolerance had been established at 1.5%, meaning that inflation could have risen to 5.25% without exceeding the target range.
The factors pushing the rate up this past year were higher fuel costs, mainly gasoline, and electricity, both of which shot up due to the coronavirus pandemic and the energy crisis the country has been mired in due to the lack of rain.
Fuel . . .
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