General Market Price Index slows in the second preview of November
The General Market Price Index (IGP-M) fell 0.35% in the second ten-day period of November, a percentage lower than the 0.97% increase recorded in October. The indicator was released on November 19 by FGV’s Brazilian Institute of Economics (IBRE).
The Broad Producer Price Index (IPA) shifted from 1.24% in the second ten-day period of October to -0.62% in the same period of November. In the analysis based on processing stages, the prices of Final Goods fell 0.45% in November, on average, after rising 1.04% in October. The fuel for consumption subgroup was the main driver behind this trend, varying from 2.87% to -9.53%
The rate for the Intermediate Goods group fell 0.27% in November, compared to an increase of 2.07% in October. The main factor behind such variation was the fuels and lubricants for production subgroup, varying from 5.60% to -2.07%.
The rate for the Crude Raw Materials group shifted from 0.44% in October to -1.24% in November. The following items contributed to the drop in the group’s rate: soy (beans) (1.39% to -5.60%), cattle (2.43% to -0.94%) and poultry (2.53% to -3.43%). The following items recorded variations opposing this trend: iron ore (0.33% to 3.51%), manioc (cassava) (0.23% to 8.56%) and coffee (beans) (-1.25% to 5.24%).
The Consumer Price Index (CPI) varied 0.11% in the second ten-day period of November, compared to 0.48% in the same period of the previous month. Five of the eight expense categories that comprise the index recorded decreases in their variations. Transport was the main contributor (1.31% to 0.15%). Within this expense category, it is important to highlight the gasoline item, which shifted from 4.54% to -0.08%.
The Housing (0.07% to -0.53%), Education, Reading and Recreation (0.52% to 0.12%), Health and Personal Care (0.49% to 0.41%) and Miscellaneous Expenses (0.03% to -0.01%) groups also recorded decreasing variation rates. The main drivers behind this trend in these expense categories were household power bill (-0.31% to -3.08%), tours and vacations (2.47% to 0.52%), hygiene and personal care items (0.86% to 0.22%) and pet food (0.16% to -0.21%).
On the other hand, the Food (0.53% to 0.56%), Clothing (0.02% to 0.21%) and Communication (0.11% to 0.12%) groups yielded higher variation rates. The greatest increases in the expense categories were seen in the following items: herbs and vegetables (4.36% to 17.20%), footwear (-0.60% to -0.09%) and landline and internet packages (0.02% to 0.49%).
The Civil Construction Index (INCC) rose 0.28% in the second ten days of November. This index rose 0.36% in the previous month. The index for Materials, Equipment and Services climbed 0.62%, compared to 0.53% in October. The Manpower cost index did not show any variation in the second ten days of November. In the previous month, this rate increased 0.21%.
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