Brazilian monthly inflation in July slowest for five years

Official data indicate that the monthly rate of consumer price inflation in Brazil was 0.19 percent last month, the slowest for five years, Xinhua reports.

The Chinese government news agency says the cost of electricity rate rose 4.48 percent last month, while prices for food, transport and healthcare were steady or fell.

The report quotes the Brazilian Institute of Geography and Statistics as saying on Thursday that the annual rate of inflation was 3.22 percent whereas inflation since January was 2.42 percent.

Slower inflation may prompt the Brazilian central bank to cut once again its benchmark interest rate, which is now 6 percent, the lowest in history, Xinhua says.