Inflation in Brazil stable for third consecutive month

Brazil's inflation rate remained stable for the third consecutive month in August, the Brazilian Institute of Geography and Statistics (IBGE) said Thursday.

The inflation rate was 0.04 percent in August, higher than the 0.01 percent in July but lower than the 0.15 percent in the same period last year.

In the past three months, the country accumulated a 0.05 percent inflation rate. The low figure can be mainly attributed to the prices of food products, which has fallen significantly since June.

In the first eight months of 2010, Brazil's inflation rate accumulated to 3.14 percent, up from 2.97 percent in the same period last year. In the September 2009 to August 2010 period, the inflation rate reached 4.49 percent, down from 4.6 percent in the previous 12-month period.

According to the Brazilian Monetary Policy Committee, the risk of Brazil's inflation rate getting out of control has diminished in the past few months.

Source:Xinhua