2023-08-11 15:21:46
Inflation over one year in Brazil rose slightly in July, to 3.99%, following 12 consecutive months of slowdown, according to official figures released Friday by the statistical institute IBGE.
Monthly consumer price inflation (IPCA) rose to 0.12% last month, while inflation was negative in June (-0.08%).
And in that same month of June, the one-year IPCA was 3.16%, the lowest since 2020.
The acceleration of inflation in July is largely due to the cost of transport (+1.5%), due in particular to a rise in fuel prices (+4.75%).
But the price of food continued to fall (-0.46%), following already -0.66% in June, due in particular to a drop in the price of meat, soybean oil or beans. black, the staple food of many Brazilians.
The July figures are “slightly above” analysts’ expectations, which had forecast monthly inflation of 0.07%, according to Gustavo Sung, an economist at consultancy firm Suno Research.
The latter, however, believes that “the context of inflation remains favorable” in the largest economy in Latin America.
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