Brazil General Market Price Index slows down in second preview of October
The General Market Price Index (IGP-M), calculated by FGV’s Brazilian Institute of Economics (IBRE), rose 0.97% in the second ten-day period of October, a percentage lower than the 1.34% increase recorded in September.
The Broad Producer Price Index (IPA) shifted from 1.95% in the second ten-day period of September to 1.24% in the same period of October. In the analysis based on processing stages, the prices of Final Goods rose 1.04% in October, after rising 0.63% in September. The processed foods subgroup was the main driver behind this trend, varying from -0.76% to 1.04%
The Intermediate Goods group rose from 1.98% in September to 2.07% in October. The main factor behind such variation was the fuels and lubricants for production subgroup, which climbed from 3.79% to 5.60%.
The rate for the Crude Raw Materials group rose from 3.47% in September to 0.44% in October. The following items contributed to the drop in the group’s rate: iron ore (11.24% to 0.33%), soy (beans) (3.96% to 1.39%) and corn (grain) (6.08% to -3.95%). In the opposite direction, the sugar cane (-1.31% to 0.96%), poultry (0.57% to 2.53%) and cattle (1.34% to 2.43%) items stand out.
The Consumer Price Index (CPI) varied 0.48% in the second ten-day period of October, compared to 0.16% in the same period of the previous month. Five out of the eight expense categories comprising the index recorded increasing variation rates. Transport was the main contributor (0.09% to 1.31%). Within this expense category, it is important to highlight the gasoline item, which rose from 0.20% to 4.54%.
The Food (-0.11% to 0.53%), Health and Personal Care (0.24% to 0.49%), Communication (0.00% to 0.11%) and Education, Reading and Recreation (0.47% to 0.52%) groups also recorded increasing variation rates. The main influencing factors within these expense classes were herbs and vegetables (-6.03% to 4.36%), hygiene and personal care items (-0.53% to 0.86%), cell phone bill (-0.42% to 0.05%) and performance venues (-3.62% to 1.15%).
On the other hand, the Housing (0.31% to 0.07%), Clothing (0.20% to 0.02%) and Miscellaneous Expenses (0.42% to 0.03%) groups yielded lower rates. The main drivers in these categories were household power bill (-0.08% to -0.31%), footwear (0.53% to -0.60%) and cigarettes (0.90% to -0.04%).
The Civil Construction Index (INCC) rose 0.36% in the second ten days of October. This index rose 0.19% in the previous month. The index for Materials, Equipment and Services climbed 0.53%, compared to 0.41% in September. The Manpower cost category recorded an increase of 0.21% in the second ten-day period of October. The index did not vary in the previous month.
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