International Business / The Pacific

March Inflation in Brazil Lowest Since 1958: The Latin American country’s monthly inflation rate was 0.23% in March. Monthly inflation tumbled from 0.4% in February and 1.92% in March 1995 as the cost of food, clothing and personal expenditures receded, the Institute for Economic Research, or FIPE, said. The report surprised economists who in February projected March inflation at about 1%, a rate they forecast for monthly inflation through the remainder of 1996. Inflation in the 12 months ended in March was 21.24%, FIPE said. Inflation in the first three months of the year was 2.48%, compared with 4.09% a year ago. FIPE’s consumer price index is the most widely watched index for inflation.