Brazil: Inflation accelerates in June
Consumer prices rose a seasonally-adjusted 0.67% in June over the previous month, accelerating from May’s 0.47% increase. The slowdown was primarily driven by brisker growth in prices for food.
Inflation increased to 11.9% in June, up from May’s 11.7%. As such, inflation Moved further above the Central Bank’s 3.5% target. Consequently, the trend pointed up, with annual average inflation coming in at 10.7% in June (May: 10.4%).