Brazil Inflation August 2020


Brazil: Inflation hits four-month high in August

September 9, 2020

Consumer prices rose a seasonally-adjusted 0.24% in August over the previous month, which was below July's 0.36% increase, marking the softest rise in prices since May. Looking at the details of the release, the upturn was largely driven by higher prices for transportation. Moreover, prices for food and beverages also increased.

Inflation ticked up to 2.4% in August, which was up from July’s 2.3%. August's result represented the highest inflation rate since April. Meanwhile, the trend pointed down mildly, with annual average inflation coming in at 3.0% in August (July: 3.1%).

Panelists participating in the LatinFocus Consensus Forecast see inflation closing 2020 at 1.7%, which is unchanged from last month’s forecast. For 2021, the panel projects inflation of 3.2%.

Author:, Economist

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Brazil Inflation Chart

Brazil Inflation August 20 20

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

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