UPDATE 1-Brazilian brewer Ambev's quarterly profit misses expectations

Rewrites throughout

Aug 1 (Reuters) - Brazilian brewer Ambev ABEV3.SA reported a 5.6% decline in second-quarter profit, just below forecasts, although it said sales rose slightly, especially in its home market and cost discipline measures had paid off.

The subsidiary of the world's largest brewer by volume Belgium's Anheuser-Busch InBev ABI.BR posted a profit of 2.45 billion reais ($433.05 million), versus 2.50 billion real based on analysts polled by LSEG.

While core profit was below expectations, earnings before interest, tax, depreciation and amortisation (EBITDA) grew by 10% to 5.81 billion reais, beating a consensus forecast of 5.54 billion.

Total volumes rose 0.4%, led by Brazil and Central America and the Caribbean, where sales of beer and -alcoholic beverages were resilient.

The parent company AB InBev also reported on Thursday, beating core-profit expectations.

Analysts said the industry is returning to after the disruption of the pandemic, although earlier this week Diageo was among those to say challenges persisted because of lingering inflationary pressures.

($1 = 5.6575 reais)

(Reporting by Natalia Siniawski; Editing by Andrew Heavens and Barbara Lewis)

((.siniawski@thomsonreuters.com;))