Brazil's inflation probably stayed high in July but with some deceleration in underlying trends, a Reuters poll of economists suggested. Policymakers are waiting for a cooling in consumer prices to launch a series of interest rate cuts to boost economic activity before next year's presidential election.

The Labor Department’s consumer price index for July, to be released at 8:30 a.m. Eastern time, is expected to show that the annual pace of inflation rose to 2.8 percent from July 2024. That’s up from a 2.