Energy Markets
Brazil's inflation drops in early June due to lower food prices
Brazil's consumer prices increased less than expected at the beginning of June, bringing relief to the central bank after they voted to increase interest rates last week. IBGE, a statistics agency, reported on Thursday that the IPCA-15 Consumer Price Index rose by only 0.26% from the previous month, compared to 0.36%. This is below the 0.30% increase expected by economists. IBGE reported that annual inflation was 5.27% during the period. This is down from 5.40% at mid-May, and below all poll estimates, which predicted a median of 5.31%. Statistically, the lower-than expected figures were a result of a decline in...