BRAZIL’S 12-month inflation rate slowed less than expected in April as the government allowed medicine prices to rise, adding to signs that the central bank could wait longer before cutting interest rates to counter a deep recession.

    Consumer prices as measured by the benchmark IPCA index rose 9.28 percent in the 12 months through April, down from an increase of 9.39 percent in the previous month but above forecasts for a 9.20 percent rate in a Reuters poll.

    Prices rose 0.61 percent in April from March, up from an increase of 0.43 percent in the previous month, government statistics agency IBGE said.

    (SD-Agencies)