• Categories
  • Archives

Fueled by Ethanol and Phone Rates Brazil’s Inflation Goes Up to 6.30%

Mid month thirty days consumer prices index in Brazil accelerated to 0.28% during August compared to 0.11% in July reported the Brazilian Geography and Statistics Institute, IBGE.

The IPCA-15 index as is known in Brazil during the first eight months of 2005 to mid August reached 3.91% and 6.30% in the last twelve months.


The major impact according to the IBGE was telephone rates which increased 3.39% in August as well as alcohol fuel (or green fuel for vehicles) with 4.22% and regular gasoline 1.14%. The index was measured between July 13 and August 11.


Another impact was the recent decision of Congress to raise the Brazilian minimum wage which had a 1.86% incidence in August’s consumer prices.


Actually Congress voted the increase in spite of President Lula da Silva administration’s opposition. The political crisis has seriously weakened the current administration’s leverage in Congress.


At the other end, food and beverage consumer prices surprisingly contracted 0.67% following a 0.4% increase in July. Average electricity bills for residential users also experienced a 0.65% drop in July.


As to unemployment July repeated June’s 9.4% which is considered the lowest in the last three years. The rate is a considerable advance from last year’s July 11.2%.


The average real value take home of salaries in July actually increased 2.5% compared to June and stands at the equivalent of US$ 396. Compared to July 2004 the increase was 1.6%.


Mercopress – www.mercopress.com

Tags:

  • Show Comments (0)

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

Lula on Honduras: Brazil Acted Right and Truth Prevailed

Just before leaving Venezuela to fly back to Brazil, Brazilian president Luiz Inácio Lula ...

Brazil’s Election Board Wants Cheaper Election Campaigns

The president of Brazil’s Federal Election Board (TSE), Minister Carlos Velloso, declared at the ...

Unemployment Falls in Brazil. Shrinking of Economically Active Population Helps.

The encouraging results of the National Employment Survey, announced by the Brazilian Institute of ...

Brazil Approves Purchase of Valtra by AGCO

U.S.-based AGCO Corporation, a global manufacturer and distributor of agricultural equipment, announced today that ...

Brazil vs. NYT: The Times Misbehaved

The NYT’s arrogant attitude will just harden the attitude of Brazilians who are anti-American. ...

Brazil Confident It Will Reach Agreement with Bolivia on Gas Prices

The Brazilian Minister of Foreign Relations, Celso Amorim, commented today, May 4, that the ...

Brazil Sends Books to East Timor to Promote Portuguese

The rural libraries program Arca das Letras (Chest of Letters) developed by the Brazilian ...

Brazil’s Banco do Brasil Gets Over 5,000 Last-Generation ATMs from Diebold

Brazil's Banco do Brasil is expanding its electronic services with the installation of more ...

Brazil’s Petrobras Spends US$ 2.5 Billion in 26 Oil Tankers

Transpetro, subsidiary of the Brazilian oil company Petrobras for the logistics and transportation sector, ...

Majority of Brazilians Say No to Lula’s Social Programs

For the first time since taking office in January 2003, an Ibope opinion poll ...