São Paulo inflation hits 12-month 8.79%, but slows down in August

The Consumer Price Index measured by the Institute of Economic Research Foundation (FIPE) in São Paulo has risen a cumulative 7.35% since January this year and 8.79% in the past 12 months.

But in August, prices rose only 0.56%, the second lowest rate this year, and significantly below the 0.85% price rise in July.

In August, inflation in the country's biggest city lost momentum in four of seven categories surveyed, especially the food sector where prices dropped 0.52% from a previous 0.77% hike.

Translated by Mayra Borges

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