Brazil: Inflation continues to climb in May
June 10, 2015
Consumer prices in May increased 0.74% over the previous month. The print was above the 0.71% increase recorded in April and overshot market expectations of a 0.59% rise. The result was driven largely by faster increases in the price of food and beverages as well as electricity compared to the previous month.
Headline inflation rose from 8.2% in April to 8.5% in May. May’s result marked the highest inflation level since December 2003. As a result, inflation remains far above the Central Bank’s tolerance margin of plus/minus 2.0 percentage points around 4.5%.