By Jeffrey T. Lewis
SÃO PAULO–Brazil’s inflation slowed in May from April and from a yr earlier, as housing costs declined and the price of gasoline rose much less.
Consumer costs elevated 0.47% from April, the Brazilian Institute of Geography and Statistics, or IBGE, stated Thursday. Prices rose 11.73% from a yr earlier. In April, costs rose 1.06% from March and elevated 12.13% from a yr earlier.
It was the primary time this yr that the 12-month price declined, probably signaling that inflation in South America’s greatest economic system has lastly peaked after reaching an nearly 19-year excessive final month. Higher meals and gas costs in current months pushed inflation increased in current months, and each rose extra slowly in May.
The worth of foods and drinks rose 0.48% in May following a rise of two.06% the earlier month, and transportation costs, which embrace fuels, rose 1.34% after rising 1.91% in April. The worth of gasoline elevated 0.92% in May, in contrast with an increase of two.48% the earlier month.
Brazil’s central financial institution has been elevating its benchmark rate of interest, often called the Selic, since early final yr to strive to gradual the tempo of worth will increase. The Selic went from a report low of two% in the beginning of the rate-increasing cycle, to 12.75% now. The financial institution’s subsequent financial coverage assembly is subsequent week, and economists say the present cycle is approaching an finish.
Write to Jeffrey T. Lewis at [email protected]
Brazil 12-Month Inflation Slowed to 11.73% in May & More Latest News Update
Brazil 12-Month Inflation Slowed to 11.73% in May & More Live News
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Brazil 12-Month Inflation Slowed to 11.73% in May & More News Today
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