Brazil’s Broad Consumer Price Index (Àndice 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.
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%.