Brazil records lowest inflation rate since November 1991 in the first two weeks of August
Inflation in Brazil fell 0.73% in the first two weeks of August after declining 0.68% in July, the official Brazilian Institute of Geography and Statistics (IBGE) reported today.
This was the lowest inflation rate since November 1991, when IBGE analysis began mid-month.
The trend indicates that there will be “deflation” in the calculation of the whole of August, as was the case in July.
According to analysts, these two consecutive reductions are due to lower fuel and household gas prices.
President Jair Bolsonaro pushed through the petroleum tax cut law and appointed new management at state oil company Petrobras, which adopted a new pricing policy.
According to the IBGE report, cumulative inflation has been 5.02% this year, while it has risen to 9.60% in the last twelve months.
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