Brazil: Inflation rises to over five-year high in July
August 10, 2021
Consumer prices increased a seasonally-adjusted 0.96% over the previous month in July, accelerating from June's 0.53% rise. July's reading marked the sharpest increase in prices since December 2020. The reading was driven by rising prices for transportation and food and beverages.
Inflation came in at 9.0% in July, up from June’s 8.3%. July's reading was the highest inflation rate since May 2016. Annual average inflation rose to 5.5% in July (June: 5.0%).
Author: Stephen Vogado, Economist