Brazilian inflation increased at the slowest pace in more than 17 years in the 12 months through the end of August, the Brazilian Institute of Geography and Statistics, or IBGE, said Wednesday.
Consumer prices rose 0.19% during the month, the smallest increase since 1994, and increased 2.46% in August from a year earlier.
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Price increases have slowed rapidly since January 2016, when the 12-month figured reached 10.7%. That improvement, along with Brazil's worst recession on record during 2015 and 2016, has allowed the country's central bank to slash its benchmark interest rate to 9.25% from 14.25% in October of last year.
The bank is expected to cut the benchmark rate, known as the Selic, again at its monetary policy meeting on Wednesday.
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(END) Dow Jones Newswires
September 06, 2017 08:36 ET (12:36 GMT)