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Brazil June Consumer Prices Rise Less Than Analysts Forecast

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Brazil’s consumer prices in June climbed less than analysts expected, as the central bank continues to raise interest rates in the face of a looming recession. Swap rates fell.

Monthly inflation as measured by the benchmark IPCA index accelerated to 0.79 percent from 0.74 percent in May, the national statistics agency said Wednesday in Rio de Janeiro. That was slower than the median 0.82 percent estimate from 42 economists surveyed by Bloomberg. Inflation in the 12 months through June quickened to 8.89 percent from 8.47 percent a month earlier.