July inflation in Brazil down more than expected -FGV

The coordinator of FGV price indices, André Braz, said that the decline in commodity prices such as iron ore (-12.94%), soybeans (-2.27%), and corn (-4.98%) explains the slowdown in commodity inflation.

The General Price Index-Domestic Availability (IGP-DI) fell 0.38% in July from June. The decline was above market estimates. The median of the projections indicates a decrease of 0.18% in the month.

The FGV (Getúlio Vargas Foundation) announced the result on Friday (5).

The IGP-DI measures price fluctuations from agricultural and industrial commodities to consumer goods and services. In June, it was still up 0.62%. In July, it was 1.45%.

The index has reached a high of 7.44% this year. Within 12 months, it increased by 9.13%.

The coordinator of FGV . . .

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