SAO PAULO (Reuters) – Brazil’s consumer prices as measured by the benchmark IPCA index rose 0.67% in June, slightly below market forecasts as the country undergoes an aggressive monetary tightening cycle, government statistics agency IBGE said on Friday.
The figure was above the 0.47% rise seen a month earlier, but below expectations as economists polled by Reuters had projected a 0.7% increase.
All of the nine groups surveyed posted a positive reading last month, with the biggest impact stemming from a 0.80% increase in food and beverages costs, IBGE said in a statement.
Prices rose 11.89% in the 12 months through June, up from an increase of 11.73% as of the previous month and roughly in line with expectations of an 11.90% rise.
(Reporting by Gabriel Araujo; editing by Jason Neely)
