Brazil: Inflation hits four-month high in August
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%).