Gas Prices Help Push Inflation Up in Brazil

October’s Broad Consumer Price Index (IPCA) was 0.75%, double September’s rate of 0.35%. The cumulative index for the year stands at 4.73%, less than last year’s figure of 5.95% for the same period.

Over the past 12 months the IPCA was up 6.36%, as against 6.04% in the preceding 12-month period. The IPCA inflation indices were announced today by the Brazilian Institute of Geography and Statistics (IBGE).

Gasoline was responsible for the single largest impact on the index, contributing 0.18% to October’s increase. This was in part the consequence of September’s 10% readjustment in the price of fuel at refineries, raising gas prices at the pump an average of 4.17% per liter.

Increases in airfares (11.06%) and urban bus fares (1.10%) lifted transportation costs 2.21%, the biggest increase among all the economic segments covered in the survey.

The index has been computed since 1980 and reflects the outlays of families with monthly earnings of 1-40 minimum wages.

The survey is conducted in the country’s nine major metropolitan areas and the cities of Goiânia and Brasí­lia.

The IBGE compares the prices gathered during the period between September 27 and October 26 with those gathered during the preceding one-month period.

Agência Brasil

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