Brazil sees price hikes after two months of deflation
The official inflation stood at 0.26% in June
Published in 10/07/2020 - 11:18 By Vitor Abdala - Rio de Janeiro
Brazil’s official inflation, as gauged by the National Broad Consumer Price Index (IPCA), stood at 0.26 percent in June, the higher than May this year (-0.38%) and June 2019 (0.01%). The figures were released in Rio de Janeiro today (Jul. 10) by the government’s statistics agency IBGE.
June’s inflation came after two consecutive decline in prices: May (-0.38%) and April (-0.31%). The result in June brings the IPCA to 0.10 percent year-to-date and 2.13 percent in the 12-month period.
Food and drinks
The main drivers behind the inflation in June were food and drinks, which saw a 0.38 percent increase in prices due to products such as pinto beans (4.96%), rice (2.74%), and UHT milk (2.33%).
Transport also made a significant impact on June’s IPCA, with 0.31 percent inflation, chiefly due to gasoline (3.24%) and ethanol (5.74%).
Translation: Fabrício Ferreira - Edition: Kleber Sampaio / Nira Foster
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