The rate is up from 0.12% in the previous month and is also higher than that recorded in August last year, when 0.36% deflation was observed. The main impact on the rate for the month stemmed from housing.
The country’s broad consumer price index, the IPCA, is the year’s first negative result and the lowest for June since 2017’s -0.23%. Food and new cars were the main drivers behind the reduction.
The result brings the rate to 4.70% year to date and 6.47% in 12 months. Major impacts came from food and beverages and transportation. Only communications sank.
This was the third consecutive month of deflation and the lowest variation for the month of September since 1994, according to the country´s Broad Consumer Price Index.
The shrinkage comes after a 0.68 percent drop in July. Research manager Kislanov said the slowdown in deflation was chiefly driven by the electricity and fuel.
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