Brazil inflation up 0.96% in July

The National Broad Consumer Price Index (IPCA), which gauges changes in prices for families with an income between one and forty minimum wages, went up 0.96 percent in July, the biggest result for the month since 2002, when the increase stood at 1.19 percent.

The data were disclosed today (Aug. 10) in Rio de Janeiro by the government statistics agency IBGE.

Year to date, the index surged 4.76 percent, compared to 8.99 percent month-on-month, being therefore above the 12 months immediately prior (8.35%).

Eight of the nine groups surveyed showed an increase in the month, with a higher impact stemming from the 3.10 percent hike in housing, the group pressed by the 7.8 percent surge in electric energy.