Consumer inflation increased in the second measure of May due to higher electricy bills says FGV

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Inflation, as measured by the weekly Consumer Price Index (CPI-S), had a slight uptick from 0.26% to 0.30%, in the first to the second reading of May, according to the Getulio Vargas Foundation (FGV).In the measure, four out of the eight components of the index rose, with the largest contribution coming from the Housing Group (-0.15% to 0.44%), where residential electricity charges increased to 1.52%.

The IPC-S is calculated in seven Brazilian capitals: São Paulo, Rio de Janeiro, Belo Horizonte, Recife, Salvador, Porto Alegre and Brasília.

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