Cumulative 12-month inflation reaches 8.89%
Brazil's official inflation reached 8.89% in the 12 months ending last June, according to the Brazilian Institute of Geography and Statistics (IBGE). This is the highest 12-month cumulative rate since the 9.30% tracked in December 2003.
The Broad National Consumer Price Index (IPCA) is the official inflation gauge used by the government to track inflation against its targets and measure change in the living costs of households headed by wage earners with monthly incomes ranging between one and 40 times the minimum monthly wage.
According to IBGE, gambling was the main single inflation driver in June, up 30.80%. Considering the months of May and June, gambling prices went up 47.50% as a result of the increase in lottery ticket prices as of May 18.
The transport category also impacted the IPCA rate in June, going up 0.7% under pressure mainly from airline tickets, as well as vehicle servicing (1.7%), domestic workers (0.66%), second-hand cars (0.78%) and local bus fares (0.4%).
The IPCA was 0.79% in June, up from the 0.74% reported in May. With this result, the inflation rate closed out the first half of the year at 6.17%, well above the 3.75% in the first half in 2014 and a peak for the January-June period since 2003 (6.64%).
Translated by Mayra Borges
Fonte: Cumulative 12-month inflation reaches 8.89%
