Brazil Inflation Eases To 5-month Low

(RTTNews) - Brazil's consumer price inflation moderated further in August to the lowest level in five months, figures from the Brazilian Institute of Geography and Statistics, or IBGE, showed on Friday.

The consumer price index climbed 4.22 percent year-over-year in August, slower than the 4.44 percent rise in July. The expected inflation rate was 4.27 percent.

The annual price growth in housing softened to 4.90 percent from 5.93 percent, and clothing inflation slowed to 3.25 percent from 3.87 percent. Transport charges also rose at a slower pace of 3.04 percent versus 3.64 percent amid a slowdown in fuel costs.

On a monthly basis, consumer prices dropped 0.32 percent after rising 0.07 percent in July. Further, this was the first monthly fall in one year.