SAO PAULO, Nov 8 (Reuters) - Consumer prices in Brazil,

as measured by the benchmark index IPCA, rose 0.56%

in October, above market forecasts, the government statistics

agency IBGE said on Friday.

Prices rose 4.76% in the 12 months through October, up from

an increase of 4.42% in the previous month.

According to IBGE, the inflation figures were boosted by a

4.74% increase in residential electricity prices, as in October

a higher energy tariff was in force compared to September.

The higher-than-expected figure comes after Brazil's

central bank

accelerated

its policy tightening with a 50 basis-point interest rate

hike on Wednesday, leaving the door open for further increases

while underscoring the need for fiscal discipline to counter

inflation.

The bank's rate-setting committee, known as Copom, voted

unanimously to lift its benchmark Selic rate to 11.25% as

forecast by 30 of 34 economists in a Reuters poll.