RIO DE JANEIRO, Nov. 11 (Xinhua) -- Brazil's inflation slowed to 0.09 percent in October, the lowest figure for that month since 1998, the Brazilian Institute of Geography and Statistics said Tuesday.
With the October figure, the country's accumulated inflation in 12 months fell to 4.68 percent, down from 5.17 percent in the previous 12 months.
Despite the slowdown, inflation still remains above the government target of 3 percent by the end of this year, with a tolerance range of 1.5 percentage points above or below the figure.
According to the institute, the slowdown was mainly driven by a 2.39 percent decline in residential electricity rates.
In 2024, Brazil recorded an annual inflation rate of 4.83 percent, exceeding the central bank's target ceiling of 4.5 percent.
