27-July-2024
Economy News
 
Brazil Inflation Speeds up Ahead of Central Bank's Rate Decision
26-Jul-2024

Consumer prices in Brazil rose more than expected in the month to mid-July on higher transportation costs, official data showed on Thursday, likely sealing the deal for the central bank to keep interest rates on hold at a policy meeting next week. Prices as measured by the IPCA-15 index were up 0.30% in the period, statistics agency IBGE said, slowing from 0.39% in the previous month but overshooting the 0.23% increase forecast of economists polled by Reuters. Seven out of the nine groups surveyed by IBGE posted price increases in the period, the agency said, with transportation being the biggest influence on the back of higher airfare and fuel costs.

News Source:- https://money.usnews.com/investing/news/articles/2024-07-25/brazil-consumer-prices-up-more-than-expected-in-mid-july