FX.co ★ Brazil Mid-Month CPI Rises More Than Expected in May

Consumer prices in Brazil increased 0.62% month-on-month in the first half of May 2026, easing from a 0.89% rise in April but coming in above market expectations of 0.53%.

Of the nine expenditure groups surveyed, food and beverages registered the sharpest advance, up 1.38%. Within this category, at-home food prices climbed 1.73%, driven mainly by potatoes (26.29%), tomatoes (12.97%), long-life milk (6.07%), and meat (1.98%).

Housing costs rose 1.03%, largely reflecting a 2.16% increase in residential electricity tariffs after the reintroduction of the yellow tariff flag. Health and personal care expenses were up 1.05%, as pharmaceutical products gained 1.25% following authorized adjustments to medicine prices.

Transport was the only group to record a decline, slipping 0.33% amid lower prices for ethanol, diesel, and gasoline.

Among the regions, Goiânia posted the highest inflation rate at 1.41%, while Brasília recorded the lowest at 0.33%. On a year-on-year basis, consumer prices rose 4.64%.