Brazil July Inflation Up 0.19%

Brazil recorded inflation of 0.19% in July, as measured by the broad consumer price index IPCA, following a month of deflation in June. June’s price fall of 0.21%, the largest in eight years, was not repeated this month due to the rising cost of gas, transport and food. Inflation in the 12 months through July fell to 3.97%, from 4.03% in June and well within the government’s annual target of 4.5%.