Brazil: Inflation Falls

Brazil’s inflation rate rose to .49 percent in May, down from .87 percent in April as utility prices and fuel costs declined. The lower figure increases the likelihood the central bank, after nine months of interest rate increases, will maintain its benchmark rate at 19.75 percent when it meets next week. Inflation in the 12 months through May slowed to 8.05 percent from 8.07 percent in April.