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Brazil's annual inflation slipped back into the central bank's target range in November, confirming that an uptick seen in the previous two months due to unfavorable base affects had come to an end and inflation is likely to finish this year within the official goal for the first time since 2020. Consumer prices as measured by the benchmark IPCA index rose 4.68% in the 12 months through November, statistics agency IBGE said on Tuesday, down from 4.82% in the previous month and below the 4.70% forecast by economists polled by Reuters. The central bank kicked off a monetary easing cycle in August after holding its benchmark rate at a six-year high of 13.75% for nearly a year to tame high inflation, following 1,175 basis points of hikes.