Brazil registered deflation -a drop in the price index- of 0.68% in July. This was the first drop in the IPCA (National Wide Consumer Price Index) since May 2020 (-0.38%). It was also the biggest drop recorded in the historical series, which started in January 1980 - 42 years.
The IBGE (Brazilian Institute of Geography and Statistics) released the result this Tuesday (9). The previous record was set in August 1998, when there was a deflation of 0.51%.
The drop in the IPCA (National Wide Consumer Price Index) was slightly higher than the financial market projections obtained by . . .