Brazil’s inflation slows to 0.21% in mid-April
Brazil’s consumer prices rose slightly less than expected in the mid-April reading, data from statistics agency IBGE showed on Friday.
Prices in Latin America’s largest economy rose 0.21% in the month to mid-March, below the 0.29% growth expected by economists polled by Reuters.
This took the inflation of the previous 12 months to 3.77%, slowing down from 4.14% in the 12 months to mid-March and also below expectations of a 3.86% increase. The reading marked the first time since July last year the figure came in below 4%.
“All told, the inflation picture continues to improve in Brazil, thanks to favorable base effects, the lagged effect of high-interest rates and softening domestic demand,” said Andres Abadia, Chief Latam Economist at Pantheon Macroeconomics.
Reporting by Peter Frontini; Editing by Steven Grattan and Angus MacSwan via Reuters