January 23, 2013 / 10:31 PM / 5 years ago

Brazil to cut electricity rates by 18-32 pct - Rousseff

BRASILIA, Jan 23 (Reuters) - Brazilian President Dilma Rousseff announced a deeper-than-expected cut in electricity rates on Wednesday to contain inflation and help manufacturers struggling with high costs.

As of Thursday, household power rates will drop by 18 percent on average and rates for industrial consumers by 32 percent, Rousseff said in a television address to the nation.

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