IGP-M varies 0.01% in January 2019

The General Market Price Index (IGP-M) rose 0.01% in January, compared to -1.08% in December. This brings the index to an accrued high of 6.74% in 12 months. In January 2018, the index had risen 0.76% and reached an accrued drop of 0.41%.

The Broad Producer Price Index (IPA) dropped 0.26% in January, after falling 1.67% in December. In the analysis by processing stages, the rate of the Finished Goods group varied 0.52% in January, compared to 0.07% in the previous month. The main driver behind this trend was the fuel for consumption subgroup, which varied from -8.83% to -2.66% over the same period. The Finished Goods (ex) category, excluding the fresh foods and fuel for consumption subgroups, rose 0.53% in January, compared to 0.39% in the previous month.

The Intermediate Goods group varied from -2.66% in December to -0.99% in January. The main driver behind this result was the manufacturing materials and components subgroup, which went from -2.13% to -0.64%. The Intermediate Goods (ex) rate, excluding the fuel and lubricants for production subgroup, varied -0.39% in January, compared to -1.38% in December.

The Crude Raw Materials group recorded a milder drop from -2.45% in December to -0.30% in January. The following items contributed to the slight improvement in the group’s rate: iron ore (-3.61% to 2.99%), fresh milk (-7.99% to -2.23%) and manioc (cassava) (-1.26% to 4.52%). The following items shifted in the opposite direction: sugarcane (0.32% to -0.53%), cattle (1.47% to 0.60%) and coffee (beans) (-2.99% to -4.95%).

The Consumer Price Index (CPI) varied 0.58% in January, compared to 0.04% in December. Seven out of eight expense classes within the index showed positive variations. The highlight was the Housing group (-0.21% to 0.41%). Another highlight in this expense class is the household power bill, which rose from -2.67% to -0.38%.

The Transport (-0.90% to -0.03%), Food (0.44% to 0.94%), Education, Reading and Recreation (1.13% to 2.12%), Health and Personal Care (0.17% to 0.52%), Miscellaneous Expenses (0.21% to 0.28%), and Communication (0.06% to 0.10%) groups also recorded higher rates. The following items were the main drivers behind this trend: gasoline (-5.17% to -1.56%), fruit (2.22% to 6.99%), formal courses (0.00% to 3.79%), hygiene and personal care items (-0.72% to 1.09%), notary office (-0.02% to 1.82%), and landline phone and internet plans (0.23% to 0.49%).

On the other hand, only the Clothing group recorded a lower price variation rate (0.19% to -0.07%). The highlight in this expense class was the clothing item, whose rate went from 0.25% to 0.00%.

The Civil Construction Index (INCC) rose 0.40% in January, compared to 0.13% in December. Prices for Materials, Equipment and Services rose 0.36%, compared to 0.28% in the previous month. The Manpower cost category recorded an increase of 0.43% in January. The index did not vary in the previous month.

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