Brazil’s National Broad Consumer Price Index, or IPCA, which gauges the country’s official inflation, was reported at 0.19 percent in July—up 0.01 percent from June, but down 0.33 percent from July last year.

This is the lowest rate for the month since 2014 (0.01%). The figures were released today (Aug 8) in Rio de Janeiro, by Brazil’s government statistics agency IBGE.

The rate is 2.42 percent year to date and 3.33 percent for the 12-month period, therefore below the 4.25 percent target set by the Central Bank.

Housing expenses, up 1.20 percent, were the main drivers behind July’s 0.19 percent inflation. Electric energy, up 4.48 percent, was the most significant item in the group (housing).

Deflation in transport (0.17%) and clothing (0.52%) kept the rate from being higher in July. Under transport, fuels faced a major impact—down 2.79 percent.

Gasoline, for instance, dropped 2.8 percent. In clothing, the main item was women’s clothes, which saw a 1.39 percent reduction in prices. For food, inflation reached a mere 0.01 percent.