Brazilian inflation as gauged by the Broad Consumer Price Index (IPCA) amounted to 0.25% in July, after registering a 0.02% deflation in June.
This information was released today by the Brazilian Institute of Geography and Statistics (IBGE). The IPCA is used by the government to set its inflation targets.
Including July’s result, the IPCA so far this year stands at 3.42%, lower than the 3.63% registered during the same period last year.
Likewise, the cumulative inflation rate for the past 12 months, 6.57%, is down from the 7.27% for the immediately preceding 12-month period.
The biggest impact on July’s inflation was produced by fixed telephone rates, which rose 4.21% in consequence of authorized readjustments. Fuel prices had the second biggest effect.