By Ovunc Kutlu
ISTANBUL (AA) - Brazil's annual consumer inflation slowed to 4.68% in November, down from the same month of last year, according to figures released Tuesday.
The figure came in slightly lower than market estimates of 4.7%, while slowing its pace from the 4.82% annual increase seen in October.
On a monthly basis, however, the consumer price index rose 0.28%, also coming in lower than market expectations of 0.3%, but up slightly from the 0.24% year-on-year gain in October.
Prices for six of the total nine groups of products and services increased in November, the Brazilian Institute of Geography and Statistics said in a statement.
The largest monthly increase was seen in food and beverages with a gain of 0.63%, it said.
Brazil's central bank last month lowered its interest rate by another 50 basis points to 12.25% — its third consecutive rate cut since August.