Brazil: Prices Fall

Brazil’s consumer prices fell in June for the first time in almost two years, heightening speculation the central bank will start cutting interest rates as soon as next month. Consumer prices, as measured by the government’s IPCA index, fell 0.02 percent after rising 0.49 percent in May. The annual inflation rate tumbled to a seven-month low of 7.27 percent in June from 8.05 percent in May. Brazil´s central bank has raised its benchmark interest rate nine times since September.