# Brazil inflation speeds up in July as central bank vows 'caution'

> Brazil's IPCA inflation accelerated to 0.38% month-on-month in July, slightly above expectations, driven by a 3.15% rise in gasoline after Petrobras raised prices. Twelve-month inflation reached 4.50%, at the upper limit of the central bank's target band.

- Date: 2024-08-09 · published 2024-08-09T12:00:00.000Z
- Category: report · region Brazil · magnitude low
- Page: https://feedsoft.ai/events/11944-brazil-inflation-speeds-up-in-july-as-central-bank-vows-caution
- Commodities: [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Higher inflation raises expectations of Selic rate hikes, which tends to strengthen the real and can reduce Brazilian domestic feed and livestock input costs over time.

## Read by commodity

- DIESEL: bullish ▲
- USDBRL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2026-07-24 | [US Dollar vs Brazilian Real slides slightly after US Treasury report on Brazil's currency practices](https://feedsoft.ai/events/18566-us-dollar-vs-brazilian-real-slides-slightly-after-us-treasury-report-on-brazil.md) | -0.3% | +1.9% |
| USDBRL | 2025-01-31 | [Brazil's gross debt rises less than expected in 2024, aided by foreign reserves sale \| Reuters](https://feedsoft.ai/events/26714-brazil-s-gross-debt-rises-less-than-expected-in-2024-aided-by-foreign-reserves.md) | -2.1% | -0.2% |
| USDBRL | 2022-11-30 | [US cuts billions of dollars off of FY 23 ag export forecast \| 2022-11-29 \| Agri-Pulse Communications, Inc.](https://feedsoft.ai/events/14889-us-cuts-billions-of-dollars-off-of-fy-23-ag-export-forecast-2022-11-29-agri.md) | -1.0% | -0.5% |
| USDBRL | 2020-11-09 | [The Fed - Foreign Exchange Rates - H.10 -  November 09, 2020](https://feedsoft.ai/events/50374-the-fed-foreign-exchange-rates-h-10-november-09-2020.md) | -1.1% | -5.6% |
| DIESEL | 2021-07-01 | [Grain Transportation Report, July 15, 2021](https://feedsoft.ai/events/45953-grain-transportation-report-july-15-2021.md) | -0.1% | +2.9% |
| DIESEL | 2024-10-04 | [Distillate fuel oil demand will increase in the fall because of the agricultural harvest -
		U.S. Energy Information Administration (EIA)](https://feedsoft.ai/events/11686-distillate-fuel-oil-demand-will-increase-in-the-fall-because-of-the.md) | +2.4% | -2.8% |
| DIESEL | 2025-05-22 | [Barge grain movements surge, rail volumes up year-over-year \| Feed & Grain](https://feedsoft.ai/events/16450-barge-grain-movements-surge-rail-volumes-up-year-over-year-feed-and-grain.md) | -4.2% | +19.3% |
| DIESEL | 2026-07-16 | [USDA Grain Transport Report July 16, 2026: Diesel Prices, Rail Tariffs, Barge Movements, and Export Sales - News and Statistics - IndexBox](https://feedsoft.ai/events/11240-usda-grain-transport-report-july-16-2026-diesel-prices-rail-tariffs-barge.md) | +3.3% | -2.6% |

## Sources

- reuters.com: https://www.reuters.com/world/americas/brazil-inflation-speeds-up-july-central-bank-vows-caution-2024-08-09/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.