2018.07.0817:06:00UTC+00BRAZIL: Annual Inflation Rises To 4.39% In June

The consumer price index in Brazil rose 4.39% in June from a year before, gaining strength from the previous month, when the index increased 2.86%, according to the country's statistics office (IBGE).

It was the fastest annual inflation rate since March 2017, when the consumer price index rose 4.57%. The strong increase is a consequence of a trucker drivers' strike, which led to shortages of food and fuels and consequently to price increases in the beginning of June.

On a monthly comparison, the Brazilian consumer price index increased 1.26% in June. In May, the index grew 0.4%. So far in 2018, the inflation rate in Brazil is up 2.6%.

The annual inflation target in Brazil ranges from 3% to 6%. The next monetary policy decision at the Brazilian central bank is scheduled to August 1.