Brazil & Southern Cone - August 2013 (ISSN 1741-4431)

There was a sharp dip in inflation in July. Prices as measured by the benchmark Ipca index rose 0.03%, down from a 0.26% increase from June to May. On a 12-month basis, inflation slipped to 6.27% from 6.70%, bringing it in line with the central bank’s target band of 4.5% plus or minus two percentage points. President Dilma Rousseff, mindful of next year’s election, welcomed the news enthusiastically; her finance minister Guido Mantega, was somewhat more cautious.

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