Brazil's 12-month inflation slowed in February to its lowest level in almost two years, official data showed on Thursday, potentially paving the way for the central bank to kick off an easing cycle next week despite the recent spike in oil prices. Annual inflation in Latin America's largest economy eased to 3.81% last month, statistics agency IBGE said, the lowest reading since April 2024 and down from 4.44% in January. Still, it was above the 3.77% that economists polled by Reuters had expected.