Brazil Mid-Month Inflation Eases in June

Consumer prices in Brazil rose 0.41% month-over-month in the first half of June 2026, slowing from 0.62% in May and coming in slightly below forecasts of 0.44%. Cost of food and beverages eased to 0.74% from 1.38%, as prices of food consumed at home decelerated to 0.87% from 1.73%. Housing inflation also fell to 0.72% from 1.03% in May. In health and personal care, prices rose 0.47%, easing from 1.05% in the previous month. Transportation fell 0.03% after declining 0.33% in May, as lower fuel prices offset increases in airfares and public transportation. Regionally, Brasília posted the highest increase at 0.93%, driven by airfares and gasoline, while Rio de Janeiro, Curitiba, and Salvador recorded the lowest readings at 0.28%. Mid-month inflation reached 3.45% year-to-date and 4.80% over the last 12 months.

Consumer prices in Brazil rose 0.62% month-on-month in the first half of May 2026, slowing from 0.89% in April but exceeding forecasts of 0.53%. Among the nine categories surveyed, food and beverages posted the largest increase, rising 1.38%, with at-home food prices up 1.73%, led by potatoes (26.29%), tomatoes (12.97%), long-life milk (6.07%), and meat (1.98%). Housing costs rose 1.03%, mainly due to a 2.16% increase in residential electricity prices following the return of the yellow tariff flag. Health and personal care advanced 1.05% as pharmaceutical products climbed 1.25% after authorized medicine price adjustments. Transport was the only category to decline, falling 0.33%, as ethanol, diesel, and gasoline prices dropped. Regionally, Goiânia recorded the highest inflation rate at 1.41%, while Brasília posted the lowest at 0.33%. On an annual basis, prices increased 4.64%.

Consumer prices in Brazil rose 0.89% month-on-month in the first half of April 2026, a significant acceleration from March's 0.44%. All nine surveyed product and service groups posted gains, with food and beverages and transportation driving 65% of the index. Food prices surged 1.46%, led by sharp increases in carrots (25.43%), onions (16.54%), milk (16.33%), and tomatoes (13.76%). Transportation costs jumped 1.34%, reversing March's trend, driven by a 6.06% spike in fuel prices. Gasoline rose 6.23% and diesel soared 16.00% as the conflict in Iran and the closure of the Strait of Hormuz pushed global oil prices higher. Health and personal care rose 0.93% due to pharmaceutical price adjustments of up to 3.81%, while housing costs accelerated to 0.42% following electricity tariff hikes.