Brazil official inflation sinks to 0.47% in May

Brazil’s National Broad Consumer Price Index (IPCA), which gauges the country’s official inflation, stood at 0.47 percent in May, below April’s 1.06 percent and the 0.83 percent seen in May last year, as per data released today (Jun 9) by statistics agency IBGE.

The result brings the rate up to 4.78 percent year to date. In 12 months, the inflation rose 11.73 percent, below the 12.13 percent reported a month earlier. The index for the 12-month period is above ten percent for the ninth consecutive month.

The greatest impact on the month’s inflation came from transport—up 1.34 percent, chiefly due to the 18.33 percent hike in airfares. Fuels saw a price variation of one percent, below the 3.20 percent increase from the previous month.