By William Jones, Contributing Reporter RIO DE JANEIRO, BRAZIL – Research by the Brazilian Central Bank disclosed to the market on Monday showed an inflation expectation of just over six percent in 2014. President Dilma Rousseff responded to the figure by claiming that she and her government are striving daily to try and contain the country’s high inflation rate. Despite being well above target, the Brazilian Central Bank in Brasíllia (above) remains defiant that inflation is within range, photo by OPLOP/Wikimedia Creative Commons License. The Brazilian government’s current inflation target stands at 4.5 percent, however, in the past two years the figure has hovered above the desired target from 5.84 percent in 2012 to 5.91 percent at the close of 2013. Furthermore, monthly inflation swelled to its highest rate in December last year, the biggest jump in that figure since 2003. “We are making a big effort to make inflation converge to the midpoint of the target,” Rousseff said in a radio interview in Minas Gerais. “This is an important issue. The closer Brazil is to the center of the target, the more stable the country becomes.” Dilma Rouseff also promised that her pledge to continue to struggle to stop inflation from spiraling higher was by no means an electioneering policy as she prepares for a re-election campaign at the end of this year. Instead, she promised to maintain and improve the government’s approach. “My government does not only do this in an election year, it does it throughout the year. Since 2011 we are there, fighting and struggling everyday for strong economic fundamentals and to ensure investment in social policies. This is the challenge facing the government, it is not because of elections.” In the frank radio interview, Brazil’s president also revealed her willingness to see states and municipalities help support the country’s economy by saving money to pay interest on the public debt. “We really want the state and local governments participate in this effort of fiscal robustness, which is important for the country. I also wanted to alert them to the fact that making efforts towards tax must be part of the states’ and municipalities’ agenda.” Read more (in Portuguese). *The Rio Times Daily Update is a feature we are offering to help keep you up-to-date with major news as it happens. 9 Responses to "Brazil 4.5% Inflation a Priority for Rousseff: Daily" Pingback: Brazil's Unemployment Hits Record Low: Daily Update | The Rio Times | Brazil News Pingback: Low 1.79% GDP Growth Expected in 2014: Daily Update | The Rio Times | Brazil News Pingback: Brazil Slashes R$44B from 2014 Budget: Daily Update | The Rio Times | Brazil News Pingback: Brazil Trade Deficit Hits All-Time Low in February: Daily Update | The Rio Times | Brazil News Pingback: Brazil Inflation, Electricity Bills Up Amid Economic Uncertainty: Daily Update | The Rio Times | Brazil News Pingback: Despite Rising Food Prices, Inflation Set to Decrease: Daily Update | The Rio Times | Brazil News Pingback: Prices at Rio Botecos Surge Fourteen Percent in a Year | The Rio Times | Brazil News Pingback: High Brazilian Service Prices Drive Inflation | The Rio Times | Brazil News Pingback: May's Food and Transport Help Lower Inflation: Daily Update | The Rio Times | Brazil News Leave a Reply Cancel Reply Your email address will not be published.