Brazil’s IPCA consumer price index inflation accelerated in September on rising food and transportation costs to surpass the 6.75% top end of the country’s 12-month inflation target band. The IBGE statistics institute reported inflation surged 0.57% in the month to reach 6.75% on a 12-month basis. The IBGE reported food costs surged 0.78% during the month, while transportation costs were up 0.63%. Brazil’s central bank raised the country’s base Selic interest rate by more than 3 percentage points to 11% through early this year in an effort to combat inflation, but suspended the rate tightening cycle amid forecasts that inflation would likely ease in the second half of the year. Brazil’s government has set an official annual inflation target of 4.5%, but allows for a two percentage point margin of tolerance on either side of the target center point. According to recent central bank market surveys, the country’s inflation is seen ending the year at 6.3%. The latest accelerated inflation figures comes as Brazilian president Dilma Rousseff has planned to announce revisions to the government’s economic policy framework ahead of her attempt to gain re-election in a second-round vote later this month.