Consumer prices in Brazil decelerated more than expected in May, government data showed on Wednesday, with 12-month inflation hitting its lowest level in more than two years and dropping below the 4% mark for the first time since late 2020.
The figures are likely to add weight to calls by President Luiz Inacio Lula da Silva’s government and business people for the central bank to lower its key interest rate from the current six-year high of 13.75%.
Read More : Brazil’s Inflation Reaches Lowest Point in Over 2 Years, Triggering Calls for Rate Cuts