Brazil's annual consumer inflation up 10.07% in July
Consumer prices decrease 0.68% in July on monthly basis
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Brazil's consumer price index rose 10.07% in July year-on-year, according to official data released on Tuesday.
The market expectation for the index was to show an annual gain of 10.10%, while consumer inflation jumped 11.89% in June.
On a monthly basis, however, consumer prices decreased 0.68% in July, according to the Brazilian Institute of Geography and Statistics (IBGE).
While the market estimate for the monthly figure was a 0.65% decline for July, consumer prices rose 0.67% in June from the month before.
"Of the nine groups of products and services surveyed, two showed deflation in July, while the other seven had high prices," the IBGE said in a statement.
The transport group showed the largest monthly decline with 4.51%, mainly due to the reduction in fuel prices, it added.
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