Brazil´s Annual Inflation Rate Falls

Brazil’s annual inflation rate declined to 6.57 percent in the twelve months through July, the lowest rate in over a year. Inflation was 7.3 percent in June and peaked in April at a 16-month-high of 8.1 percent. Prices rose 0.25 percent last month, pushed higher by a surge in telephone rates, after falling 0.02 percent in June. The lower inflation rate increased speculation that the country´s central bank will lower its benchmark lending rate next week.