Brazil's 12-month inflation accelerated in May from April amid strong fuel prices. Consumer prices rose 0.40% in the month, compared with an increase of 0.22% in April, statistics agency IBGE said on Friday. The consumer price index advanced 2.86% in May from a year earlier, up from April's 2.76% pace.
Brazilian consumer prices rose faster than expected in November. Inflation as measured by the benchmark IPCA index, quickened to 0.52% last month from 0.43% in October.
Uruguay consumer prices increased 0.35% in June, completing 8.61% in the last twelve months, which remains above the Central bank target of 4% to 6%, and the latest estimate of 7.8% presented last week by the Executive in its additional budget report to Congress.
Consumer spending in the United States was unchanged in May for the first time in almost a year, likely reflecting a plunge in auto sales, according to a US government report, that also showed a build-up in underlying inflation pressures.
Brazil Central Bank head of Monetary Policy Aldo Mendes anticipated Monday that inflation in the coming two/three months will be almost flat, close to zero and supported his forecast on the food prices inflexion tendency.
China's surging inflation eased slightly in April as Beijing tightened controls to cool its overheated economy. Consumer prices climbed 5.3% over a year earlier, driven by an 11.5% jump in food costs, data showed Wednesday.
Brazilian Central bank President Alexandre Tombini admitted inflation forecasts may “worsen”. Consumer prices in the 12 months through mid-March rose 6.13%, the biggest jump in more than two years.