Brazilian annual inflation rate came in at 6.51 percent in August, marginally unchanged from 6.5 percent in July. Yet, monthly inflation accelerated for the first time in five months due to a rise in transport cost.
The annual inflation stayed at the upper limit of the central bank's target range for the third straight month. Brazil's central bank officially aims for a yearly inflation rate of 4.5 percent, plus or minus two percentage points.
On a monthly basis, consumer prices rose 0.25 percent, due to a 0.33 percent increase in transport cost, mainly from air fares and gasoline. Additional upward pressure came from education cost (+0.43 percent in August).
In contrast, food prices fell again 0.15 percent and cost of clothing and footwear decreased at a slower 0.15 percent.
9/5/2014 2:52:46 PM