(MENAFN) Brazil's annual inflation ratio has hit 10.8 percent in 2015, which is up from prior forecasts and more than double the government goal, based on the available data.
Amid deep recession in the world's seventh largest economy, the annualized rate is projected to stay above 9 percent for the first three months of 2016 before starting to fall.
Brazil's economy is now suggested to have declined by 3.6 percent over the year, more than the 2.7 percent estimation in September and the biggest annual fall in nearly 25 years.
Brazil is the biggest national economy in Latin America, and has been the world's largest producer of coffee for the last 150 years, plus it has become the 4th largest car market in the world.
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