March 11 Reuters Brazil39;s monthly inflation rate likely accelerated to a oneyear high in February, a Reuters poll found, from where it should begin to fall back again in coming months due to abundant supplies of farm products and softer economic conditions.

Except for some seasonal effects, consumer prices in Brazil have remained tame since the start of 2023, thanks to a tight policy stance by the central bank that is causing the economy to cool, despite a raft of modest rate cuts.

Official inflation data on Tuesday are forecast to show a faster monthly clip for February, rising to 0.78 likely the highest since February 2023 from 0.42 in January, according to the median estimate of 25 economists polled between March 611.

We expect a rise of 0.78 on the back of a seasonal hike of tuition fees, while fuel prices were impacted by the increase of the ICMS state tax, said Mauricio Nakahodo, senior economist at MUFG.

Brazil39;s biweekly inflation gauge picked up in midFebruary driven by higher education prices. The sector led an overall rise with a 5.07 jump mainly due to seasonal hikes in school fees.

On a yearly basis, consumer prices are predicted to have increased 4.44 last month, slowing down from 4.51 in January and returning to the official target for 2024 of 3 plusminus 1.5 percentage points.

One of the reasons behind this is the country39;s consolidation as one of the world39;s top food producers. In the most recent sign of progress, Brazilian sugar exports…