Brazil Inflation Eases To 4.24%

(RTTNews) - Brazil's consumer price inflation eased for the first time in four months in August, figures from the Brazilian Institute of Geography and Statistics, or IBGE, showed on Tuesday.

The consumer price index climbed 4.24 percent year-over-year in August, slower than the 4.50 percent rise in July. Economists had expected inflation to moderate to 4.30 percent.

The annual price growth in housing softened to 3.22 percent in August from 4.90 percent in July. Similarly, transport charges grew at a slower pace of 4.53 percent.

On a monthly basis, consumer prices dropped marginally by 0.02 percent versus a 0.38 percent rise in July. Moreover, this was the first fall in fourteen months. The monthly decrease was mainly due to cheaper costs for housing, residential electricity prices, and food and beverages.