Brazil’s inflation slows in mid-July

Silvio Cascione – Reuters, 7/22/2015

Brazil’s inflation slowed in the month to mid-July as the economy headed into recession, potentially paving the way for a smaller interest rate hike by the central bank later this month.

Brazil’s IPCA-15 consumer price index rose 0.59 percent in the month to mid-July as expected by economists in a Reuters poll, down from 0.99 in the previous month, government statistics agency IBGE said on Wednesday.

Trailing 12-month inflation remained high at 9.25 percent,
more than double the official 4.5 percent target.

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