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Sao Paulo consumer inflation slows to 0.35% in July

Staff Writer |
Consumer inflation in Sao Paulo, Brazil's largest city, slowed in July, as prices in key categories eased in the period.

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The consumer-price index in Sao Paulo rose 0.35% in July, compared with an increase of 0.65% in June, Fipe research foundation said.

Food prices, which have the greatest weighting in the index, picked up 0.78% in July, compared with a 1.17% increase in June.

Housing-related costs, which include electricity bills, rose 0.20% in the period, compared with a 0.80% rise previously.

Brazil's central bank has its Selic base rate at 14.25% a year as inflation and inflation expectations show no firm signs of a slowdown. After contracting 3.8% in 2015, Brazil's economy is expected to shrink 3.24% this year.


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