*Brazil’s national statistics institute (IBGE) has released new figures, which show that the national inflation rate stood at 0.33% in July. Although the July inflation figure is still higher than the 0.24% observed in July 2017, it was significantly lower than the 1.26% registered in June, which had been driven by the 11-day lorry drivers’ strike staged in May. The July result brings the accumulated inflation rate for the first seven months of the year to 2.94% compared with the 1.43% recorded in the same period last year. Nevertheless, the inflation rate is still within the central bank (BCB)'s target range of 4.50% +/- 1.5 percentage points.
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