Brazil's consumer inflation increases in May

ISTANBUL

Brazil's consumer inflation showed both monthly and annual gains in May, according to figures released Tuesday by the Brazilian Institute of Geography and Statistics (IBGE).

Consumer inflation monthly increased 0.46% in May, gaining pace from a 0.38% month-on-month rise recorded in April.

The figure also came in slightly higher than market estimates of 0.42%.

The health and personal care group showed an increase of 0.69%, while food and beverages rose 0.62%, and transportation gained 0.44%, IBGE said in a statement.

On an annual basis, consumer price index rose 3.93%, also accelerating from a 3.69% increase in April.

That figure was also higher than expectations of a 3.88% year-on-year gain.

Brazil’s central bank on May 8 lowered its benchmark interest rate by 25 basis points to 10.5%, its seventh consecutive rate cut and the lowest level since February 2022.

ISTANBUL

Brazil's consumer inflation showed both monthly and annual gains in May, according to figures released Tuesday by the Brazilian Institute of Geography and Statistics (IBGE).

Consumer inflation monthly increased 0.46% in May, gaining pace from a 0.38% month-on-month rise recorded in April.

The figure also came in slightly higher than market estimates of 0.42%.

The health and personal care group showed an increase of 0.69%, while food and beverages rose 0.62%, and transportation gained 0.44%, IBGE said in a statement.

On an annual basis, consumer price index rose 3.93%, also accelerating from a 3.69% increase in April.

That figure was also higher than expectations of a 3.88% year-on-year gain.

Brazil’s central bank on May 8 lowered its benchmark interest rate by 25 basis points to 10.5%, its seventh consecutive rate cut and the lowest level since February 2022.