Brasília, 22 (Agência Brasil - ABr) - Wholesale inflation in June was the highest since the second half of 2000, according to the latest survey by the National Confederation of Industry (CNI). The IGP-DI rose 1.74% and the IPA, 2.5%, with the result that cumulative inflation for the last 12 months now stands at 9.7% and 11.0%, respectively. Meanwhile, consumer prices also jumped, with the IPCA doubling from May to June, up 0.42%.

According the CNI, the inflation spike is due to the rising exchange rate, which affects food prices and government-controlled utilities fees. The real fell 23.2% during the first two-week period in July, compared to April. Compared to December, the cumulative devaluation of the real for the year is 20.9%. (AB)