Brazil Has Second Consecutive Month of Deflation

Brazil’s General (Market) Price Index (Àndice Geral de Preços – Mercado) (IGP-M) showed deflation of 0.42% in April. The result of the survey, conducted by the Fundação Getúlio Vargas (FGV), is 0.19 less than the deflation of 0.23% which occurred in March.

This is the fourth consecutive month that market price variations have fallen and the second consecutive month in which price increases were negative.

With the April result, cumulative price increases for the year are at a low 0.27%, and for the last twelve months the increase has been a negative 0.92%.

The IGP-M is calculated on the Retail Price Index (IPA), Consumer Price Index (IPC) and the Civil Construction Cost Index (INCC). The IPA has the most weight in the IGP-M, accounting for 60% of the index.

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