June festivities will be more expensive this year, according to IBRE

10 July 2013

This year, anyone wanting to enjoy June and July's festivities in Brazil will have to spend more. According to a survey by FGV's Brazilian Institute of Economics (IBRE), the ingredients of the typical recipes are, on average, 13.55% more expensive compared to the same period in 2012. The change is more than double the Weekly Consumer Price Index (IPC-S), with an accumulated rate of 6.22%. Leading the way up was the item wheat flour, which recorded a 26.83% change. Coalho cheese, sausage and milk also became more expensive, with an increase of 26.75%, 23.56% and 21.65%, respectively. Among 20 items monitored by FGV, only three presented a price reduction: refined sugar (-11.01%), crystal sugar (-10.84%) and soybean oil (-6.52%).