Reuters: US Dollar Report: Brazil Sao Paulo inflation slows in May

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Brazil Sao Paulo inflation slows in May Jun 4th 2012, 11:29 Mon Jun 4, 2012 7:29am EDT * Brazil's FIPE index at 0.35 pct last month * Index in line with market forecasts * Brazil's FIPE index rose 0.47 pct previous month SAO PAULO, June 4 (Reuters) - Consumer prices in Sao Paulo, Brazil's largest city, slowed in May from the previous month on lower costs of personal expenses and apparel, an economic research institute said on Monday. The IPC-FIPE index rose 0.35 percent last month, compared with an increase of 0.47 percent in April, according to the FIPE economic research institute. The index was expected to climb 0.34 percent, according to the median forecast of five analysts surveyed by Reuters. Estimates ranged from 0.31 percent to 0.36 percent. The FIPE index is closely watched by economists as a pointer to trends in Brazil's benchmark IPCA inflation index, which is used by the central bank as a guide when setting interest rates. Policymakers slashed Brazil's benchmark interest rate to a record low of 8.50 percent last week to stimulate the economy. Below is the result for the FIPE index price categories: Item April May ====================================================== - Housing 0.00 pct 0.09 pct - Food 0.45 pct 0.74 pct - Transportation 0.18 pct -0.01 pct - Personal care 1.94 pct 0.81 pct - Health 0.73 pct 0.76 pct - Clothing 0.89 pct -0.12 pct - Education 0.04 pct 0.05 pct ====================================================== - INDEX 0.47 pct 0.35 pct Link this Share this Digg this Email Reprints

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