Brazilian January consumer inflation was 0.48% accumulating 5.84% in the last twelve months, slowing for a third consecutive months after having reached a three year high in October, according to the latest release from the country's statistics office.
Insufficient rainfall in south Brazil, mostly in the states of Rio Grande do Sul, Parana, Matto Grosso do Sul and west Santa Catarina, will cause a 6.53% drop in the 2008/09 grain crop, which will fall from 144.11 million tons to 134.70 million tons, reported this week the Supply Office (Conab) from the Agriculture and Livestock ministry.