Brazil’s inflation drops to 0.07% in July, returns to target

Food prices fell in July, helping Brazil’s official inflation lose momentum for the fourth consecutive month and close at 0.07 percent. This brings the country’s consumer price index IPCA to a 12-month cumulative rate of 4.44 percent, back in line with the government’s target. The rate for July was consistent with financial market estimates. Monday’s (Aug. 10) Focus readout – a Central Bank survey of economic institutions – projected that July inflation would come in at 0.07 percent. By the end…