Financial News: Brazil Inflation Rises To 5-Month High

Brazil Inflation Rises To 5-Month High

08/09/2024 - 09:19:00 (RTTNews)

(RTTNews) - Brazil's consumer price inflation accelerated further in July to the highest level in five months, figures from the Brazilian Institute of Geography and Statistics, or IBGE, showed on Friday.

The consumer price index climbed 4.50 percent year-over-year in July, faster than the 4.23 percent rise in June. Economists had expected inflation to rise to 4.47 percent.

The annual price growth in housing accelerated to 4.90 percent in July from 3.05 percent in June. Similarly, transport charges grew at a faster pace of 4.88 percent.

On a monthly basis, consumer prices moved up 0.38 percent in July, following a 0.21 percent rise in the previous month. The expected increase was 0.35 percent.

The rise in monthly inflation was largely attributed to a faster price rise in gasoline and airfares.

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