Inflation Brasil 2003
Average inflation: 14.8%
Current Inflation
Inflation is very high at 14.8%, far above the ECB target.
Peak and Trough
The highest inflation was in May at 17.2%. The lowest inflation was in December at 9.3%.
- Highest month
- May: 17.2%
- Lowest month
- December: 9.3%
- Difference
- 7.9 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Food and non-alcoholic beverages with an average of 20.7%. The lowest price increase was in Miscellaneous goods and services with an average of 9.9%.
- Highest increase
- Food and non-alcoholic beverages: 20.7%
- Lowest increase
- Miscellaneous goods and services: 9.9%
Historical Context
Current inflation is 5.5% higher than the 5-year average of 9.3%. This approaches the highest level since records began (14.8% in 2003).
- 5-year average
- 9.3%
- 10-year average
- 9.3%
- All-time high (2003)
- 14.8%
- All-time low (2001)
- 6.8%
Trend
Inflation shows an upward trend. Compared to 2002, inflation has risen by +6.4 percentage point.
- Change vs. previous year
- +6.4 percentage points
- Largest monthly swing
- May: +9.4 percentage points
ECB Target
Inflation is 12.8% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this high inflation rate, purchasing power rapidly decreases. This has a major impact on households, especially without adequate salary increases.
What you could buy for €100 this year will cost approximately €114.80 next year at this inflation rate.
Multi-year trend
Monthly figures 2003
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2002 |
|---|---|---|
| January | 14.5% | +6.9 |
| February | 15.8% | +8.3 |
| March | 16.6% | +8.9 |
| April | 16.8% | +8.8 |
| May | 17.2% | +9.4 |
| June | 16.6% | +8.9 |
| July | 15.4% | +7.9 |
| August | 15.1% | +7.6 |
| September | 15.1% | +7.2 |
| October | 14.0% | +5.6 |
| November | 11.0% | +0.1 |
| December | 9.3% | -3.2 |
| Average | 14.8% |
Data source
Data from OECD. Last updated: 11/01/2026.