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LatinNews Daily - 10 June 2021

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In brief: Brazil’s inflation reaches 25-year high

* Brazil’s national statistics institute (Ibge) has released the latest figures on the consumer price index (IPCA), which show that monthly inflation reached 0.83% in May, the highest figure for the month in 25 years. This brings inflation in the 12 months to May to 8.06%, up from the 6.76% yearly inflation recorded in April. Inflation was recorded across all consumer categories, but was particularly driven by an increase in the cost of electricity, the Ibge notes. The central bank’s (BCB) inflation target range of 3.75% +/- 1.5 is looking increasingly out of reach. In its latest weekly survey of economists, the BCB projects 5.44% inflation for the year.