Brazil recorded deflation, or a price decline, for the second consecutive month. The IPCA (National Wide Consumer Price Index) fell 0.36% in August.
The IBGE (Brazilian Institute of Geography and Statistics) released the result on Friday (Sep.9).
The financial market had expected a slightly larger decline of 0.40% in August.
The IPCA measures price fluctuations in the economy. Inflation means an increase in prices, while deflation means a decrease in costs.
Brazil recorded the second consecutive decline in the index. Central Bank President Roberto Campos Neto said on Aug. 23 that there could be as many as . . .
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