The General Price Index - Market (IGP-M) calculated by the Brazilian Institute of Economics (FGV/IBRE) and that regulates the value of rental contracts, recorded a change well below the rate published in the previous month: 0.86% in October against 1.50% in September - period in which it presented its highest increase since 2008.

According to IBRE, one of the factors that contributed to the deceleration of the IGP-M of October was the decline in the Broad Producer Price Index (IPA), which increased from 2.11% in September to 1.09% in the current calculation.

However, IBRE's economist, Solomão Quadros says that the index is still at a high level. The number close to 1% is far from being considered low. On the other hand, he believes that the IGP-M's November result will keep the declining trend, motivated by the stabilization in the exchange rate.