Brazil's inflation drops to 21-month low
2012-07-07 12:08:22
Brazil's annual inflation slowed to the lowest level in twenty-one months in June, and missed economists' expectations, data released by statistical office IBGE showed Friday.
The consumer price index increased 4.92 percent on an annual basis in June, slower than the 4.97 percent rise economists had expected. In May, the inflation rate was 4.99 percent. The latest figure was the lowest since September 2010, when prices rose 4.7 percent.
On a monthly basis, consumer prices edged up 0.08 percent in June, while economists were looking for a 0.12 percent gain. The monthly growth in June was weaker than May's 0.36 percent.
Food and beverages prices moved up 0.68 percent month-on-month, while housing costs advanced 0.28 percent. Meanwhile, there was a 1.18 percent decrease in transportation costs during the month.