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Financial News: BRAZIL: Preliminary Inflation Records Highest Mark Since J

BRAZIL: Preliminary Inflation Records Highest Mark Since January 1995

06/21/2018 - 15:16:00 (RTTNews)

(RTTNews) - The official preliminary inflation data in Brazil, measured by the Broad Consumer Price Index-15 (IPCA-15), gained strength and rose 1.11% in June compared to May, repeating the rate calculated in June 1996 and recording the highest variation for the month since 1995 (+2.25%), said the country's statistics office (IBGE). The result was above the median of expectations, of +0.95%.

As a result, the IPCA-15 accumulates a rise of 2.35% in the year and 3.68% in the previous 12 months, going above the bottom of the Brazilian central bank's inflation target for the first time since January, and beating the median of the estimates, of +3.52%.

According to the IBGE, the preliminary consumer inflation data acceleration from May to June was influenced by Food and Beverage (from -0.05% to + 1.57%) Housing (from 0.45% to 1.74%) and Transportation (from -0.35% to + 1.95%).

Energy prices rose 5.44% in the period, representing the second largest individual impact on the IPCA-15. At the top of the list is gasoline, whose rate went from 0.81% to 6.98% in June.

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