Brazil's Inflation Rate Rises to 3.93% in May, Exceeding Expectations

Jun 11, 2024, 12:24 PM

Brazil's annual inflation rate rose to 3.93% in May, exceeding expectations of 3.89% and marking an increase from the previous month's 3.69%. This uptick in inflation ends a seven-month streak of cooling prices. On a month-over-month basis, the Consumer Price Index (CPI) increased by 0.46%, higher than the previous month's 0.38% and above the estimated 0.42%. The acceleration in inflation comes as policymakers prepare to set their interest rate at next week's meeting.