Inflation & Prices
Brazil Inflation Dips Below Goal, Clearing Way Rate For Cut
- Prices fell 0.08% on month, rose 3.16% on year in June
- Since returning to power, Lula has clamored for lower rates
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Brazil’s inflation fell below target in June to hit its slowest level since September 2020, clearing the way for the central bank to begin cutting interest rates at its next meeting.
Official data released Tuesday showed consumer prices rose 3.16% from a year earlier, down from 3.94% in May although slightly above the median estimate of 3.14% from analysts surveyed by Bloomberg. From the previous month, prices dropped 0.08%.