Brazil's annual inflation increased more than economists expected in July, data released by statistical office IBGE showed Wednesday.
Consumer price inflation accelerated to 5.2 percent in July from 4.92 percent in June. Economists were looking for an inflation rate of 5.14 percent.
Month-on-month, consumer prices edged up 0.43 percent in July, after rising 0.08 percent in the previous month. The monthly growth exceeded 0.37 percent economists had forecast.
Prices of food and drinks rose 0.91 percent sequentially during the month, while housing costs advanced 0.54 percent. Clothing and garment prices were higher by 0.04 percent . Meanwhile, transportation costs decreased 0.03 percent from the preceding month, data showed.
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