Brazil’s CPI rose 4.44% year-on-year in January 2026, up from 4.26% in December and broadly in line with market expectations of 4.43%. Price pressures were strongest in housing (10.06%), education (5.97%), personal expenses (5.76%), healthcare (5.59%), and clothing (4.88%). Meanwhile, the mildest inflation rates were recorded in household articles (0.01%), communication (1.78%), food and beverages (2.20%), and transport (2.36%). On a monthly basis, consumer prices increased 0.33% in January, unchanged from the previous month.