Financial News: Brazil Inflation Slows To 3.69%, Lowest In 10

Brazil Inflation Slows To 3.69%, Lowest In 10 Months

05/10/2024 - 09:34:00 (RTTNews)

(RTTNews) - Brazil's consumer price inflation eased for the sixth straight month in April to the lowest level in ten months, figures from the Brazilian Institute of Geography and Statistics, or IBGE, showed on Friday.

The consumer price index climbed 3.69 percent year-over-year in April, slower than the 3.93 percent rise in March. Economists had expected inflation to moderate to 3.66 percent.

The latest inflation rate was the weakest since June 2023, when prices had risen 3.16 percent.

Moreover, inflation remained within the central bank's upper tolerance band of 4.50 percent.

Transportation charges grew at a slower pace of 3.27 percent annually in April versus a 3.70 percent rise a month ago, despite a spike in fuel costs. Meanwhile, prices for food and drinks increased at a steady rate of 3.1 percent.

On a monthly basis, consumer prices moved up 0.38 percent in April, following a 0.16 percent rise in the previous month. The expected increase was 0.35 percent.

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