Brazil’s IGP-M slows down in second preliminary results of February

Brazil’s General Market Price Index (IGP-M) varied 0.02% in the second ten-day period of February. The index varied 0.76% in the same period of the previous month. The second ten-day period covered by the IGP-M comprises the period between the 21st day of the previous month and the 10th day of the current month.

The Broad Producer Price Index (IPA) recorded a variation rate of -0.15% in the second ten-day period of February. The index varied 0.91% in the previous month. The Finished Goods rate went from 0.56% to -0.73%. The processed foods subgroup was the main driver behind this trend, varying from 0.90% to -1.75%

The Intermediate Goods group varied from 0.81% in January to 1.10% in February. The main factor behind such variation was the manufacturing materials and components subgroup, varying from 0.08% to 1.34%.

The Gross Raw Materials index varied by -0.80%. The index varied 1.40% in the previous month. The items that most contributed to this variation were iron ore (14.60% to -1.38%), poultry (-1.43% to -7.52%) and corn (grain) (-2.31% to -5.55%). The following items recorded variations opposing this trend: manioc (cassava) (-0.47% to 11.01%), orange (-1.40% to 14.88%) and coffee (grain) (-5.36% to 2.63%).

Visit IBRE’s website to read the complete study, available in Portuguese.