Brazil's
inflation rate accelerated in June, driven mainly by rising food
prices, to reach 11.89 percent over 12 months, the national statistics agency
said Friday.
اضافة اعلان
The rate was higher than year-on-year inflation of 11.73 percent registered
in May, said the IBGE agency.
Monthly inflation for June reached 0.67 percent, up from 0.47 percent the
previous month.
The June rise "was influenced mainly by the increase of 0.8 percent in
the food and beverages category," said an IBGE statement.
Like many countries, Latin America's biggest economy is battling high
inflation which, measured year-on-year, has been in the double digits for the
past 10 months.
So far this year, cumulative inflation has reached 5.49 percent, above the
central bank target of five percent for the year as a whole. It is now
projecting a figure closer to eight percent.
The increase in fuel prices, partly due to Russia's war on Ukraine, has been
one of the main inflation drivers.
Tens of millions of Brazilians have seen their purchasing power eroded, with
33 million people living in hunger and more than half the population of 213
million facing food insecurity.
Brazil's economic woes have cost support for far-right President Jair
Bolsonaro, who will be seeking re-election in October with low approval ratings
next to leftist former leader Luiz Inacio Lula da Silva.
The country's central bank has raised the benchmark interest rate 11 times
in a row to fight rising inflation.
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