Brazil Inflation Cools Off With Rate Cuts Still Months Away (1)

Brazil’s monthly inflation rate declined in August, falling on lower electricity and food costs that served as a relief to price weary shoppers but are unlikely to alter central bankers’ plans.

Official data released Wednesday showed consumer prices fell 0.11% from the month prior, just short of the median forecast of a 0.15% drop from analysts surveyed by Bloomberg. From a year ago, inflation came in at 5.13%.

Latin America’s largest economy is beginning to cool off as interest rates remain stuck as their highest level in two decades. While annual inflation has slowed for two consecutive months, pulled down ...