Brazil Inflation Eases To 5.32%

(RTTNews) - Brazil's consumer price inflation eased in May to the lowest level in three months, figures from the Brazilian Institute of Geography and Statistics, or IBGE, showed on Tuesday.

The consumer price index climbed 5.32 percent year-over-year in May, slower than the 5.53 percent rise in April.

Nonetheless, the inflation rate continued to remain above the central bank's upper tolerance band of 4.5 percent.

The annual price growth in food and non-alcoholic beverages eased to 7.33 percent from 7.81 percent. Transportation charges were 4.64 percent more expensive, and clothing prices rose 3.92 percent.

Monthly inflation moderated to 0.26 percent in May from 0.43 percent in April. The overall monthly increase was driven by higher residential electricity prices due to the change in the tariff flag.