Brazil IPCA falls 0.32% in August, lowest since 1994, but condo fees rise

Brazil's August IPCA dropped 0.32%, the lowest for that month since 1994, driven by a 7.63% fall in residential electricity due to the Itaipu bonus. However, 12-month inflation remains at 4.22%, and condo fees are not tied to the IPCA, so they can rise independently. The divergence highlights that headline disinflation may not reflect cost pressures in all sectors.