RIO DE JANEIRO, BRAZIL - Brazil's official inflation forecast slowed down in July but still had the highest increase for the month since 2004, with electricity and gasoline keeping up the pressure on prices.
According to data released Friday by the Brazilian Institute of Geography and Statistics (IBGE), the Broad National Consumer Price Index-15 (IPCA-15) rose 0.72% in July, after a rise of 0.83% in June.
In 12 months, the IPCA-15 index has advanced 8.59%, against an accumulated high of 8.13% in June and is now more than double the government's target . . .