Brazil Inflation August 2022

Brazil

Brazil: Inflation falls to over one-year low in August

September 9, 2022

Consumer prices fell a seasonally-adjusted 0.36% in August over the previous month, a less pronounced fall than the 0.68% drop recorded in July. The result marked the second decline in consumer prices in a row. Looking at the details of the release, the moderation in the decline was chiefly due to a softer fall in prices for transport.

Inflation came in at 8.7% in August, down from July’s 10.1%. August's reading represented the lowest inflation rate since June 2021 and the halt to an 11-month period of double-digit inflation. Despite the sharp moderation, August’s rate remained well above the Central bank’s 3.5% target. Consequently, the trend pointed down slightly, with annual average inflation coming in at 10.7% in August (July: 10.8%).

FocusEconomics Panelists participating in the LatinFocus Consensus Forecast see inflation ending 2022 at 7.7%, which is down 0.4 percentage points from last month’s forecast, and 2023 at 5.0%


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Brazil Inflation August 2022

Note: Annual and monthly variation of IPCA consumer price index in %.
Source: Brazilian Institute of Geography and Statistics (IBGE).


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