Brazil Inflation Rises Slightly To 3.99%

(RTTNews) - Brazil's consumer price inflation accelerated somewhat in July after easing to a 33-month low in June, figures from the Brazilian Institute of Geography and Statistics, or IBGE, showed on Friday.

The consumer price index climbed 3.99 percent year-over-year in July, faster than the 3.16 percent rise in June. Economists had expected inflation to rise to 3.93 percent.

Moreover, inflation stayed within the central bank's target range of 1.75 percent to 4.75 percent for the fifth straight month.

Transport charges rebounded 0.25 percent in July, compared to a 5.68 percent decline a month ago.

Housing costs grew 4.37 percent annually in July, and prices for food and alcoholic beverages rose 2.2 percent.

On a monthly basis, consumer prices moved up 0.12 percent in July, reversing a 0.08 percent drop in the previous month. The expected increase was 0.07 percent.