RIO DE JANEIRO, BRAZIL - (REUTERS) Brazilian inflation jumped to its highest monthly rate for May in a quarter-century and the annual rate scaled 8% for the first time in nearly five years, figures showed on Wednesday, almost certainly confirming another punchy interest rate hike from the central bank next week.
The monthly and annual rates of increase in consumer prices were faster than economists had expected, and are likely to cast further doubt on policymakers' insistence that much of the recent rise in inflation is down to temporary shocks.
The 0.8% monthly rate of inflation, driven by electricity . . .
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