Economics
Brazil Consumer Prices Rise More Than Expected After Rate Hike
- Spiking electricity bills drove housing costs higher in July
- Central Bank plans another full percentage-point hike in Sept.
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Brazil’s consumer prices rose more than forecast in July, as the central bank lifts its interest rate in efforts to bring inflation back to target next year.
Prices increased 0.96% from the month prior, just above the 0.95% median estimate from analysts in a Bloomberg survey. Annual inflation sped up to 8.99%, more than double this year’s 3.75% target, the national statistics agency reported Tuesday.