Brazil's Inflation Undershoots Forecasts Ahead of Rate Decision
Brazil's inflation rate slowed more than expected in May but the 12-month gauge remained well above the central bank's target range, data from statistics agency IBGE showed on Tuesday.
Consumer prices as measured by the benchmark IPCA index rose 0.26% last month and 5.32% in the 12 months through May, IBGE said, undershooting forecasts of 0.33% and 5.40% in a Reuters poll of economists.
The data marked a decline from April's 0.43% monthly rate and 5.53% for the 12-month reading, though the latter still exceeded the official target of 3%...
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