According to the Getulio Vargas Foundation (FGV), the General Price Index - Market (IGP-M) decelerated to 0.40% in July after showing a high of 0.80% in June. With the July result, the IGP-M accumulated high of 4.79% in the year and 6.39% in 12 months.
Meanwhile, the Brazilian financial market is betting heavily on the 0.50% cut in the economy's base interest rate, the Selic, which is currently at 6.50%.
Some more cautious analysts believe that the Brazilian Central Bank, at the next Copom meeting to be held tomorrow, July 31, should cut Selic by only 0.25%, leaving the annual interest rate at 6.25% per year in Brazil.
The dollar price in Brazil closed again high yesterday, July 29. The US currency ended the day at 0.29% appreciation, selling at R$ 3.7830.
