Housing and Food Drive Inflation Up in Brazil

Inflation in Brazil during the period between July 14 and August 13, gauged by the Getúlio Vargas Foundation’s (FGV) Consumer Price Index (Índice de Preço ao Consumidor – IPC-S), was 0.80 percent, 0.04 percent higher than for the previous period.

According to the FGV’s Brazilian Economics Institute (IBRE), the Food and Housing groups exerted the biggest impact on the index. Together, the two groups accounted for 78 percent of the composition of the IPC-S during the period.

The food group rose from 0.74 percent to 1.06 percent, led by vegetables and legumes (7.39 percent), sweeteners (5.83 percent), and fish (0.74 percent), among other items that experienced price increases. Their aggregrate weight in family food expenditures in the 12 capitals covered by the survey was 57 percent.

The FGV economists explained that the housing group, even though it showed deceleration, declining from 1.25 percent to 1.02 percent, exerted the biggest single influence on the IPC-S, on the order of 0.32 percent.

Among the 12 capitals surveyed, inflation accelerated in 7. The highest rate was registered in Recife (1.38 percent), and the lowest, in Fortaleza (0.19 percent).

Agência Brasil

 

 

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