Brazil Inflation July 2020

Brazil

Brazil: Inflation increases in July

August 7, 2020

Consumer prices increased a seasonally-adjusted 0.36% in July over the previous month, accelerating from the 0.26% rise logged in June. July's reading marked the sharpest increase in prices since December 2019. The acceleration was primarily driven by rising prices for transportation. In addition, price pressures for housing as well as for health and personal care goods also increased.

Inflation came in at 2.3% in July, above June’s 2.1%. Meanwhile, the trend was unchanged with annual average inflation coming in at June's 3.1% in July.

Panelists participating in the LatinFocus Consensus Forecast see inflation closing 2020 at 1.7%, which is down 0.2 percentage points from last month’s forecast. For 2021, the panel projects inflation of 3.1%.


Author:, Economist

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Brazil Inflation July 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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