Brazil's inflation reaches 5.91%

Brazil' s Extended National Consumer Price Index (IPCA), the country' s inflation indicator, rose to 5.91 percent in 2013, up from 5.84 percent in 2012, official statistics agency IBGE announced on Friday. According to IBGE, the food and beverages sector contributed the most with an inflation rate of 8.48 percent. Inflation rate in personal expenses, health and personal care products and transportation also increased, IBGE said. Brazil's Interim Finance Minister Dyogo Henrique de Oliveira said "the rate was below the target (upper limit), demonstrating that it is under control and that there is no lack of control in future perspective." Brazil' s inflation target was of 4.5 percent with a tolerance of two points, which means the top limit was 6.5 percent.