Sept 11 Reuters Brazil39;s inflation picked up slightly in August from July due to the finalization of a oneoff discount on energy prices for residential users, a Reuters poll of analysts predicted, while the yearly rate was probably the fastest in six months.

Consumer prices likely increased at a monthly 0.28 rate and 4.67 on the year, the highest since 5.60 in February, according to median estimates of 25 economists polled Sept. 611. The data will be released on Tuesday.

Electricity and fuels led a rise in regulated prices. Service inflation was pressured by adjustments in tuition fees, but with limited impact as a result of a drop in airline fares, said Rafael Pacheco, an economist at Guide Investimentos.

Stable food prices should have helped keep inflation under control, as Brazilian households continue to benefit from a record farm crop that has translated into cheaper livestock feed and fresh produce costs.

Overall, Brazilian inflation has been much lower recently than in 2022, when it hit a high of 12. But the reacceleration in August, combined with a rebound in longerterm expectations, are likely to support a cautious mood among policymakers.

After falling to 4.84 in July, the consensus view for inflation at the end of this year in the Brazilian central bank39;s weekly polls of private economists has been edging up to reach 4.93 this week.

This reflects last month39;s announcement of strong hikes in fuel prices by staterun oil company Petrobras, which…