Lula da Silva Implements Continuous Inflation Target for Brazil

Brazilian President Luiz Inacio Lula da Silva announced the adoption of a continuous inflation target policy. The existing 3% target for 2024 to 2026, plus or minus 1.5 percentage points, will now be continuously monitored rather than on a calendar-year basis. This marks a significant shift in the country's economic strategy.

Brazilian President Luiz Inacio Lula da Silva said on Wednesday that his government has decided to adopt a continuous target for inflation.

"We maintained the existing target," he told news outlet UOL in an interview. "The novelty was establishing the continuous target."

Brazil's inflation target is set at 3% for 2024 to 2026, plus or minus 1.5 percentage points, but so far it has been defined on a calendar-year basis.