IBGE reports inflation in Brazil drops to 0.47% in May; lowest monthly increase since April 2021

The 12-month cumulative price index stands at 11.73%, lower than in April (12.13%)

RIO DE JANEIRO, BRAZIL - According to the Brazilian Institute of Geography and Statistics (IBGE), inflation slowed to 0.47% in May. The data was released on Thursday (Jun 9, 2022).

The result was the lowest monthly increase since April 2021, when the IPCA (National Wide Consumer Price Index) rose 0.31%. The percentage was also below the median of financial market estimates, which indicated a rate of 0.60% for May.

The May rate was 0.59 percentage points below the April rate of 1.06%.

Cumulative inflation for the year is 4.78%. In 12 months, the index fell . . .

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