são paulobrazils inflation slowed in april from march but accelerated from a year earlier as the cost of food and transportation rose more slowly in the month consumer prices increased 106 from march the fastest rise in for the month since 1996 the brazilian institute of geography and statistics or ibge said wednesday prices rose 1213 from a year earlier the fastest pace since 2003 in march prices rose 162 from february and increased 1130 from a year earlier brazils central bank has been raising the cost of borrowing since early last year in an attempt to slow consumer price increases the bank raised its benchmark selic interest rate by 1 percentage point to 1275 at its policy meeting last week and said it expects to raise it again at its next meeting in june but by a smaller amount a problem the central bank faces is that the main sources of inflationary pressure fuel and commodities prices are abroad and are mostly outside the influence of monetary policy in brazil brazilian oil company petróleo brasileiro sa or petrobras earlier this week raised the price of diesel fuel by 9 adding pressure for mays inflation report food prices increased 206 in april after rising 242 in march while transportation prices including fuel rose 191 last month following an increase of 302 in march