Brazil's Rate-Cutting Cycle Set to End As Prices Rise More Than Expected in May

BRAZIL - SAO PAULO. Consumer prices in Brazil accelerated more than expected in May, data from statistics agency IBGE showed on Tuesday, with a jump in food costs helping drive annual inflation further away from the central bank's target.

The data put the monetary authority's ongoing easing cycle at risk, economists say, with investors pricing in a pause in the rate-cutting process when policymakers meet again later this month.