Brazil’s inflation slows in mid-June
2024.06.26 08:37
SAO PAULO (Reuters) – Brazil’s consumer prices rose less than expected in the month to mid-June, data from statistics agency IBGE showed on Wednesday.
Inflation in Latin America’s largest economy, as measured by the IPCA-15 index, came in at 0.39% in the period, slowing down from the 0.44% registered a month earlier.
Economists polled by Reuters were expecting a monthly consumer price increase of 0.45%.
Brazil’s central bank unanimously paused its easing cycle last week by holding its benchmark interest rate at 10.50% amid higher inflation expectations, fiscal struggles, and the outlook for future rate cuts by the U.S. Federal Reserve.
Brazil’s annual inflation hit 4.06% in the first half of June, according to IBGE, compared with an expected 4.12%.
