Brazil Inflation Exceeds Forecast as Rousseff Raises Tariffs

Brazil’s inflation unexpectedly accelerated in May after President Dilma Rousseff increased government-controlled prices to shore up public accounts. Swap rates rose.

Consumer prices as measured by the benchmark IPCA index rose 0.74 percent last month, the national statistics agency said in Rio de Janeiro. That was faster than last month's 0.71 percent rate and exceeded the estimates of all 42 economists surveyed by Bloomberg, whose median forecast called for a 0.59 percent increase. Inflation in the 12 months through May quickened to 8.47 percent from 8.17 percent a month earlier.