Brazil's inflation under control: finance minister

Brazil's inflation rate would rise in the upcoming months, but wouldn't get out of control, Finance Minister Guido Mantega said Friday.

Inflation in the next months would be somewhere between 0.15 percent and 0.3 percent, leading to a consumer price increase of about 5 percent for 2010, Mantega said.

However, Mantega said "we still have inflation under control."

Mantega believed inflation wouldn't surpass the government's target of 4.5 percent with a tolerance of 2 percentage points for this year, which means the rate can't exceed 6.5 percent.

In the past few months, Brazil's inflation has stabilized -- the country registered zero inflation in June and a rate of 0.01 percent in July.

Inflation accumulated in the first 7 months of 2010 reached 3.1 percent, while from August of 2009 to July of 2010 the accumulated rate reached 4.6 percent.

Meanwhile, the finance minister made a prediction of economic growth, reaffirming his belief in high growth of GDP this year.

"We will end this year with a very good binomial -- a b growth rate between 6.5 percent and 7 percent, and an inflation rate of 5 percent," he said

[Source: Xinhua, Río de Janeiro, 21Aug10]

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