Brazil Inflation Reaches 6% in Last 12 Months

Brazil’s Broad Consumer Price Index (Àndice Nacional de Preços ao Consumidor Amplo) (IPCA) rose 0.35% in September. In August, the IPCA was up 0.17%, reports the government’s statistical institute (Instituto Brasileiro de Geografia e EstatÀ­stica) (IBGE).

For the year, the IPCA has a cumulative increase of 3.95%, and for the last 12 months ending in September, it is up 6.04%.

The IBGE says the September increase was due mainly to a 10% increase in fuel prices at refineries, which resulted in an average 3.36% increase at the pump. Fuel prices were responsible for 40% of the IPCA increase in September.

The IPCA has been operating since 1980 and is based on the expenses of a family with a monthly income of one to forty minimum wages. The IPCA survey of prices is conducted in nine metropolitan regions and the cities of Goiânia and Brasí­lia.

Energy

While GDP growth during the first half was 3.4%, energy consumption rose 5.4%, compared to the same period last year (energy consumption rose 4.5% for the year of 2004). The biggest increase in energy consumption this year has been in the North region where it is up 6.2%.

The forecast for GDP growth for all of this year is 3.5%, and for energy consumption 5%.

Agência Brasil

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