Brazil saw first monthly deflation in 11 yearsStaff Writer | July 8, 2017
Brazil registered in June its first deflation in 11 years, the country's statistics agency IBGE said.
LatAm Brazil is still under the effects of a long economic crisis
Meanwhile, consumer prices rose 0.35 percent in the month compared to the same month last year.
The deflation was attributed to a long-term recession which has plagued Brazil.
Though the most recent GDP figures were positive, showing a mild growth of the economy, Brazil is still under the effects of a long economic crisis.
In addition, there are some seasonal effects in the Brazilian economy which traditionally cause June inflation to be lower than in other months.