IPCA rises 0.23% in May, driven by health plans and well below expectations

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Result reflects a strong deceleration compared to the previous month, when inflation rose 0.61%. In the accumulated in 12 months, Brazil registered an inflation of 3.94% until last month. The Extended Consumer Price Index (IPCA), which is considered Brazil’s official inflation, rose 0.23% in May compared to the immediately previous month, reported the Brazilian Institute of Geography and Statistics (IBGE) this Wednesday ( 7). In the accumulated 12 months so far, the IPCA registers an increase of 3.94%. This result represents a strong deceleration of 0.38 percentage points in relation to April, when inflation increased more strongly, at a monthly rate of 0.61% and an annual rate of 4.18%. The numbers came in well below financial market projections, up 0.33% compared to the previous month and 4.05% year-on-year. The increase in May was driven by the Health and personal care group, with emphasis on health plans, which rose by 1.20% in the month. On the other hand, the drop in prices in the Transport and Household Items groups and a deceleration among household food items were the main reasons behind a more accentuated rise in the IPCA. (Updated article)

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