Brazil experienced its most aggressive deflation for at least 26 years in May, according to a mid-month measure of consumer prices released on Tuesday, as the coronavirus crisis triggered a collapse in transport and related prices.
A costumer looks for drinks at a supermarket in Rio de Janeiro, Brazil May 10, 2019. REUTERS/Pilar Olivares
That was also a bigger fall than the median estimate in a Reuters poll of economists of a 0.45% decline, and helped reduce the annual rate of inflation to 1.96%, also below forecasts of 2.10%. Within that, fuel costs slumped 8.5%, including a 10.4% fall in ethanol prices, while air fares plunged 27.1% in the month, according to IBGE.
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