Brazil's annual consumer inflation slows to 3.16% in June

Consumer price index falls 0.08% on monthly basis

By Ovunc Kutlu

ISTANBUL (AA) - Brazil's annual consumer inflation rate slowed in June, according to official data released Tuesday.

The consumer price index annually rose 3.16% in June, slowing from the year-on-year gain of 3.94% recorded in May.

The figure managed to come below just slightly lower than the market estimate of a 3.17% increase.

On a monthly basis, the consumer price index fell by 0.08% in June, 0.31 percentage point below the May increase of 0.23%, the Brazilian Institute of Geography and Statistics (IBGE) said in a statement.

The market expectation for the index was to show a 0.1% decline on a monthly basis.

Brazil's central bank, the Banco Central Do Brasil, last made a rate hike of 50 basis points on Aug. 3, 2022, taking the interest rate to 13.75%, the highest since early 2017.

Kaynak:

This news has been read 34 times in total