IGP-M rises by 1.06% in the second preview of March
The General Price Index – Market (IGP-M), developed by FGV’s Brazilian Institute of Economics (IBRE), rose by 1.06% in the second ten-day period of March, a result higher than that recorded in the same period of the previous month, when the rate was 0.55%.
The Broad Producer Price Index (IPA) increased from 0.73% in the second ten-day period of February to 1.41% in the second ten-day period of March. In the analysis by processing stage, the prices of Final Goods, on average, rose by 1.57% in March, after a 0.81% increase in February. The largest contribution to this result came from the Fuels for Consumption subgroup, whose rate increased from -0.83% to 7.41%.
The index for Intermediate Goods changed by 0.70% in March, compared to -0.29% in February. The subgroup included materials and components for manufacturing, whose rate shifted from -1.03% to -0.12%.
The Gross Raw Material group changed went from 1.89% in February to 2.07% in March. The following items contributed to the group’s movement: soybeans (-2.36% to 1.86%), poultry (-1.19% to 6.32%), and cattle (-0.82% to 1.07%). In the opposite direction, iron ore (8.54% to 2.87%), sugarcane (2.28% to -0.09%) and coffee (grain) (0, 51% to -2.76%) stand out.
The Consumer Price Index (CPI) rose by 0.50% in the second ten-day period of March, compared to 0.17% in the same period of the previous month. Five of the eight component expenditure classes of the index reported an increase in their variation rates. The main contribution came from the Food group (0.43% to 1.10%). In this expenditure class, it is worth mentioning the item Vegetables and Legumes, whose rate went from -2.19% to 11.42%.
The Transportation (-0.13% to 0.46%), Education, Reading and Recreation (-0.43% to 0.10%), Clothing (-0.59% to 0.47%) and Health and Personal Care (0.20% to 0.55%) also reported an increase. In these expenditure classes, the main influencers were gasoline (-3.33% to 0.66%), musical concert (-11.85% to 3.75%), clothing (-0.80% to 0.53%), and hygiene and personal care items (-1.04% to 1.29%).
Conversely, the Housing (0.40% to 0.21%), Communication (0.33% to -0.04%), and Miscellaneous Expenses (0.26% to -0.0% 07%) groups reported a decrease in their variation rates. In these expenditure classes, the largest decreases were observed in the rates of home electricity bill (0.79% to 0.31%), landline phone and Internet packs (1.51% to 0.00%), and cigarettes (0.00% to -0.52%).
The Civil Construction Index (INCC) changed by 0.11% in the second ten-day period of March. In the previous month, this index had reported a 0.29% increase. The three component groups of the INCC reported the following changes in the period from the second ten-day period of February to the second ten-day period of March: Materials and Equipment (0.45% to 0.17%), Services (0.98% to 0.49%), and Workforce (0.06% to 0.01%).