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MNI BRIEF: Brazil's August Inflation 4.24%, Monthly Deflation

Brazilian consumer prices fall in August.
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MNI (BRASILIA) - Brazil's IPCA inflation was -0.02% in August, in line with the 0.01% consensus and down from 0.38% in July. On an annual basis, prices rose by 4.24%, down from 4.50% in July, the Brazilian Institute of Geography and Statistics (IBGE) said Tuesday. The consensus was for 4.27%.

"This is the first negative rate since June 2023, when the index recorded a drop of 0.08%," IBGE said. August index is the last data release before the Central Bank of Brazil’s monetary policy decision next week. In July, Copom unanimously decided to hold the Selic rate at 10.5% for a second consecutive meeting, offering no forward guidance but remaining data-dependent.

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MNI (BRASILIA) - Brazil's IPCA inflation was -0.02% in August, in line with the 0.01% consensus and down from 0.38% in July. On an annual basis, prices rose by 4.24%, down from 4.50% in July, the Brazilian Institute of Geography and Statistics (IBGE) said Tuesday. The consensus was for 4.27%.

"This is the first negative rate since June 2023, when the index recorded a drop of 0.08%," IBGE said. August index is the last data release before the Central Bank of Brazil’s monetary policy decision next week. In July, Copom unanimously decided to hold the Selic rate at 10.5% for a second consecutive meeting, offering no forward guidance but remaining data-dependent.

Keep reading...Show less