Dhaka, Dec. 12 -- Brazil recorded year-on-year inflation of 4.46 percent in November, dropping into the Central Bank's target range for the first time this year, the national statistical bureau reported Wednesday.
Price increases had topped the high end of the targeted range, 4.5 percent, throughout 2025, hurting the popularity of leftist President Luiz Inacio Lula da Silva.
But inflation has been gradually moderating in Latin America's largest economy, partly due to food prices.
In October, it reached 4.68 percent, and the market expects it to close the year at 4.4 percent, according to the Central Bank of Brazil's Focus bulletin.
Despite the drop in inflation, the bank on Wednesday kept its benchmark interest rate unchanged at 15 perc...