Brazil Inflation Boosted by Farm Price Shock, Hamilton Says

Brazil’s inflation was quickened by a temporary shock from agriculture price increases and will slow later this year, said Carlos Hamilton, the central bank’s director for economic policy.

Consumer prices rose faster than analysts expected in the month through mid-July, as adverse weather conditions in Brazil and abroad pushed up food prices 0.88 percent from the previous month. Brazil’s inflation will converge to the central bank’s target during the second half of the year as the climatic effects pass, Hamilton said to reporters in Salvador.