Brazilian consumer prices rose at a slight pace in July after falling in the previous month, reflecting continued low inflation amid a feeble economic recovery.
Brazil's IPCA consumer price index rose 0.24% in July, the Brazilian Institute of Geography and Statistics, or IBGE, said Wednesday. Economists surveyed by the local Agencia Estado newswire had expected a 0.19% increase, per the median estimate.
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Over the past 12 months, the IPCA is up 2.71%, the slowest annual pace since early 1999. Economists say a sluggish recovery from the deepest recession in more than a century has kept a lid on consumer inflation, in addition to low global commodity prices.
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(END) Dow Jones Newswires
August 09, 2017 08:35 ET (12:35 GMT)