Brazil's consumer inflation slows annually in April

By Ovunc Kutlu

ISTANBUL (AA) - Brazil's consumer inflation slowed down annually in April, according to figures released Friday.

Consumer inflation annually increased 3.69% in April, slowing its pace from a 3.93% year-on-year gain recorded in March, the Brazilian Institute of Geography and Statistics (IBGE) said in a statement.

The figure, however, came in slightly higher than the market estimates of 3.66%.

On a monthly basis, however, the consumer price index rose 0.38% in April, gaining pace from a 0.16% increase in March.

That figure also came in slightly higher than the market expectations of a 0.35% month-on-month gain.

Prices in two of the nine groups of products and services increased in April, IBGE said in a statement.

The largest monthly increase was recorded in health and personal care with a gain of 1.16%, followed by food and beverages at 0.7% and clothing at 0.55%.