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LatinNews Daily - 08 June 2023
In brief: Inflation slowdown exceeds expectations in Brazil
* Brazil’s national statistics institute (Ibge) has released the latest consumer price index, putting monthly inflation in May at 0.23% and annual inflation at 3.94%. This was down from monthly inflation of 0.61% in April, when annual inflation stood at 4.18%. The slowdown in inflation exceeded the expectation of market analysts consulted by Bloomberg and Reuters, and will further increase the pressure on Brazil’s central bank to lower its benchmark interest rate, which has been held at 13.75% for the past seven months. Monthly inflation in May was driven by price rises for health and personal care (+0.93%) and accommodation (+0.67%), while prices fell for transport (-0.57%) and household goods (-0.23%).
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