Brazil recorded deflation, or price decline, for the second month in a row. The IPCA (National Wide Consumer Price Index) fell 0.36% in August.
The IBGE (Brazilian Institute of Geography and Statistics) released the result on Friday (September 9).
The financial market had expected a slightly larger decline of 0.40% in August.
The IPCA measures price fluctuations in the economy. Inflation means an increase in prices, while deflation means a decrease in costs.
Brazil marked the second consecutive drop in the index. Central Bank President Roberto Campos Neto said on August 23 that there could be more. . .
To read full NEWS and much more, Subscribe to our Premium Membership Plan. Already subscribed? Login Here
