Tuesday June 30, 09:45 PM
Brazil govt sets 2011 inflation target at 4.5 pct
BRASILIA, June 30 (Reuters) - Brazil's government set the inflation target for 2011 at 4.5 percent, Planning Minister Paulo Bernardo said on Tuesday.
The central bank, which uses the IPCA consumer price index as a guide when setting interest rates, also has a 4.5 percent annual inflation target for 2009 and 2010.
The benchmark IPCA consumer price index rose 0.47 percent in May, little changed from April, but some fear a sudden recovery in Latin America's largest economy may spark an uptick in consumer prices. The index rose 4.89 percent in the year to mid-June, near the center of the target.
(Reporting by Isabel Versiani; Writing by Ana Nicolaci da Costa) Keywords: BRAZIL ECONOMY/INFLATION
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