BRAZIL: IPCA-15 Rises 4.53% In 12 Months To July (estimates +4.61%)

(RTTNews) - The preliminary official consumer price inflation index in Brazil (IPCA-15) lost strength and rose 0.64% in July over June (+ 1.11%), the highest variation for the month since 2004 (+0.93%), reported the Brazilian official statistics office. The result was below the median of expectations, of +0.71%.

As a result, the IPCA-15 accumulates increases of 3.0% year-to-date and 4.53% in the 12 months through July, above the bottom of the tolerance interval pursued by the Brazilian Central Bank (3.0%) for the second time since January and reaching the highest annual rate since March 2017. The reading was also below the median of the estimates, of +4.61%.