Brazil | Inflation eased in August

Summary

Monthly inflation declined to 0.22%MoM in August, from 0.62%MoM in July and 1.0%MoM on average in 1H15. As a consequence, annual inflation dropped for the first time in the year, although very slightly, to 9.53% YoY. We expect inflation to continue to moderate gradually going forward and close 2015 and 2016 at 9.2% YoY and 5.5% YoY, respectively.

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