Brazil: Inflation Increases

Brazil’s annual inflation rate rose to 8.07 percent in April, its first time above 8 percent in 16 months as medicine costs jumped and a drought in the south of the country drove up grain prices. The monthly inflation rate surged to 0.87 percent in April from 0.61 percent in March. Brazil’s central bank has lifted the benchmark lending rate eight times since September to 19.5 percent.