IPCA Rises 0.26% in July, According to IBGE

Brazil’s official inflation rate, as measured by the Broad National Consumer Price Index (IPCA), was 0.26% in July, up from 0.24% the previous month. In July 2024, there was an increase of 0.38%. The information was released on Tuesday by the Brazilian Institute of Geography and Statistics (IBGE).
The July rate was below the median of projections from 32 financial institutions and consultancies surveyed by the Valor Data, which expected a 0.35% increase. The result fell within the projected range, which was between 0.26% and 0.39%.
The monthly data was once again influenced by residential electricity, which had the largest individual impact on the index (0.12 percentage points), as in May (0.14 p.p. in 0.26%) and June (0.12 p.p. in 0.24%), according to the institute.
The accumulated result over 12 months up to July was 5.23%, down from 5.35% up to June. The median estimate from Valor Data was 5.33%, with projections ranging from 5.22% to 5.36%.