Brazil IGP-M inflation index jumps 1.57% in September, 12-month rate at 3.34%

Brazil's IGP-M price index rose 1.57% in September, reversing a 0.22% decline in August and exceeding the 1.55% consensus. The 12-month accumulation reached 3.34%, above the 3.31% median forecast. The sharp monthly swing signals renewed inflationary pressure in wholesale and construction costs, which may influence central bank policy expectations.