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Brazil's 2013 inflation nearly 6 percent
Brazil's inflation in 2013 comes in at 5.91 percent
Associated Press
2014-01-11 03:01 AM

SAO PAULO (AP) -- Brazilian officials say inflation in 2013 was up slightly from the previous year and above the government's year-end target.

The government's statistics bureau says annual inflation hit 5.91 percent last year, against 5.84 percent in 2012.

The central bank's 2013 inflation target was 4.5 percent, though the bank's brief statement says it fell within a tolerance margin of 2 percentage points.

It said that inflation in 2013 was due mainly to the more than 15 percent devaluation of Brazil's currency against the U.S. dollar and to higher job market and transportation costs.

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