Brazil's annual consumer inflation rises 11.89% in June

By Ovunc Kutlu

ANKARA (AA) - Brazil's consumer price index rose 11.89% in June, from the same month a year ago, according to data released Friday by the country's Institute of Geography and Statistics (IBGE).

The market expectation for the index was to show an annual gain of 11.9%, while consumer inflation jumped 11.73% in May.

On a monthly basis, consumer prices increased 0.67% in June, below the market estimate of 0.7%.

Consumer inflation in May showed a monthly gain of 0.47%.

The biggest impact on consumer prices came from food and beverages with a 0.8% monthly gain, the IBGE said in a statement.

The housing group, which fell by 1.7% in May, rose 0.41% in June, it added.