SÃO PAULO--Brazilian inflation continued to slow in the 12 months through mid-May as transport costs declined in the month.
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The IPCA-15 measure of inflation rose 3.77% in the year through the middle of this month, from 4.41% in the year through mid-April. The index rose 0.24% in May from a month earlier, after rising 0.21% in the month through mid-April. Transport costs fell 0.4% in the month through mid-May.
Brazil's central bank started cutting its benchmark Selic interest rate last year after price increases began to slow. The continued decline in the annual inflation rate--to below the central bank's 12-month target of 4.5% in recent months--leaves the door open for more cuts at upcoming monetary policy meetings.
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(END) Dow Jones Newswires
May 23, 2017 08:36 ET (12:36 GMT)