Brazil's annual consumer inflation up 10.07% in July

By Ovunc Kutlu

ANKARA (AA) – Brazil's consumer price index rose 10.07% in July year-on-year, according to official data released on Tuesday.

The market expectation for the index was to show an annual gain of 10.10%, while consumer inflation jumped 11.89% in June.

On a monthly basis, however, consumer prices decreased 0.68% in July, according to the Brazilian Institute of Geography and Statistics (IBGE).

While the market estimate for the monthly figure was a 0.65% decline for July, consumer prices rose 0.67% in June from the month before.

"Of the nine groups of products and services surveyed, two showed deflation in July, while the other seven had high prices," the IBGE said in a statement.

The transport group showed the largest monthly decline with 4.51%, mainly due to the reduction in fuel prices, it added.