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PBR » Topics » Inflation

This excerpt taken from the PBR 20-F filed May 22, 2009.
Inflation
 
Since the introduction of the real as the Brazilian currency in July 1994, inflation in Brazil has remained relatively stable. Inflation was 5.90% in 2008, 4.46% in 2007 and 3.14% in 2006, as measured by IPCA, the National Consumer Price Index. Inflation has had, and may continue to have, effects on our financial condition and results of operations.
 
This excerpt taken from the PBR 20-F filed Jun 30, 2005.

Inflation

 

Since the introduction of the Real as the new Brazilian currency in July 1994, inflation in Brazil has remained relatively limited, although it increased markedly in 2002. Inflation was 12.1% in 2004, 7.7% in 2003 and 26.4% in 2002, as measured by the IGP-DI, a general price index. Inflation has had, and may continue to have, effects on our financial condition and results of operations. A large percentage of our total costs are in Reais, and our suppliers and service providers generally attempt to increase their prices to reflect Brazilian inflation. These increases are counteracted by the adjustments that we make to our prices to offset the effects of inflation and an appreciation of the U.S. dollar against the Real.

 

EXCERPTS ON THIS PAGE:

20-F
May 22, 2009
20-F
Jun 30, 2005

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