Mother’s Day gifts rise by 1.92% and remain below inflation
The most wanted gifts for Mother’s Day this year had an average increase of 1.92%, below the inflation rate of the period, which stood at 5.19% (CPI/FGV). The survey conducted by Fundação Getulio Vargas’ Brazilian Institute of Economics (IBRE) also showed that the inflation for services had a slight increase (3.74%). On average, considering gifts and services, Inflation for Mother’s Day recorded an increase of 3% in the cumulative period from May 2018 to April this year.
Of the 27 items selected for the survey, only seven recorded an increase above inflation while five remained negative. Among the services, the items that drove inflation the most were Tours (10.41) and Cinemas (5.84). Conversely, Theatre reported a decrease (-11.42%).
Regarding gifts, in turn, the news are good. The leaders in preference (52.3%) on the shopping lists of children, according to the Consumer Survey, also conducted by FGV IBRE, were up by only 1.97%. Costume jewelry in general had a slightly greater increase (4.03%), as well as Belts and Bags (6.15%). The item Perfume fell by 0.17%, while electronic products such as Sound Systems (-1.68%) and TV sets (-4.67%) also reported a decrease.
“As the economy is still recovering at a slow pace, trade has little room for price increases. Households continue to have a very tight budget and have no room to support a rise in prices,” said Igor Lino researcher at FGV IBRE, who is responsible for the survey.
The researcher also suggests that families should be prepared if they wish to buy a more expensive product, as the price level of electronics is higher than that of clothing items. Lino, however, believes consumers are more attentive.
“Services and gifts rising below inflation show that this will be a less expensive Mother’s Day for consumers, which are also more attentive as to how much they can spend. It is possible to give gifts without getting into debt,” he said.