Inflation among seniors in Brazil grows above accrued CPI-BR rate in 2017
The Consumer Price Index for the Elderly (CPI-3i), calculated by FGV’s Brazilian Institute of Economics (IBRE), which measures consumer good variations in households composed primarily of individuals aged 60 or older, showed a variation of 1.18% in the fourth quarter of 2017. The CPI-3i was up 3.80% in the year. With this result, the indicator varied above the Consumer Price Index (CPI-BR), which was 3.23% for the same period.
Compared with the previous quarter, the CPI-3i recorded an increase of 0.50 percentage point, rising from 0.68% to 1.18%. Three out of the eight expense categories comprising the index recorded increasing variation rates. The Food group was the main driver behind this upward trend, with prices varying from -2.19% to 0.45%. Within this expense category, the item driving this increase was vegetables, which saw a 7.60% rise in the fourth quarter, against a -16.26% drop in the previous quarter.
The following categories also contributed to the increase in the IPC-3i: Health & Personal Care (1.21% to 1.47%) and Housing (1.08% to 1.21%). The following items stood out in each of these categories: medication in general (-0.23% to 0.12%) and kitchen gas (2.11% to 6.44%), respectively.
On the other hand, the categories Transport (3.14% to 2.51%), Clothing (0.62% to -0.07%), Education, Reading, and Recreation (1.42% to 1.11%), Communication (0.40% to 0.20%), and Miscellaneous Expenses (0.74% to 0.65%) recorded decreasing variation rates. The main drivers behind these variations were gasoline (11.98% to 5.28%), clothing (0.82% to 0.15%), airfare (16.62% to -0.63%), household phone bill (-0.25% to -2.75%), and pet food (1.68% to 0.49%), respectively.
The IPC-3i for the first quarter of 2018 will be released on April 11, 2018. Go to the website to read the complete study.