Brazil’s 2004 Inflation: No More than 7.5%

Final year-end inflation for 2004 should be between 7% and 7.5%, according to a Cost of Living (ICV) survey by the union-linked socio-economic statistical study department (Departamento Intersindical de EstatÀ­sticas e Estudos Sócio-Econômicos) (Dieese).

The Dieese forecast is considered good news.


“São Paulo inflation for the past 12 months has reached 6.8%. The Dieese estimate takes into consideration possible increases in fuel prices and the usual spike in consumer prices during the holiday season,” explains Cornélia Nogueira Porto, who coordinates the Dieese’s ICV survey.


With regard to the ICV, it was up 0.53% in São Paulo in October, an increase of 0.24 percentage points, compared to September. Porto says there was a broad-based price increase in October which affected the index, perhaps because of the approaching holiday season.


São Paulo Inflation


According to the Consumer Price Index (IPC), computed by the Economic Research Institute Foundation (FIPE) and announced today, inflation in the city of São Paulo rose in October.


The IPC closed the month at 0.62%, compared with 0.22% in September.


The greatest increase occurred in the transportation sector (1.32%), followed by the clothing sector (1.10%).


These two groups contributed 0.21% and 0.058%, respectively, to the overall index.


Increases were also registered in the sectors of food (0.28%), personal expenses (0.31%), health (0.38%), and education (0.02%).


The Fipe survey is based on the expenditures of families that live in the city of São Paulo with monthly earnings of between 1 and 20 minimum wages (US$ 92.00 to US$ 1,841.00).


Agência Brasil
Translator: Allen Bennett

Tags:

Ads

You May Also Like

Brazilian Indian Becomes a Doctor in Havana. She’s First One to Do So

Maria da Glória Oliveira da Silva, of the Pataxó Hã-Hã-Hãe people, has just graduated ...

Bolivia Pays Brazil for Oil Plants and Fines It for More than Buyback Price

Bolivia took control Tuesday, June 26, of two refineries it bought back from Brazil's ...

Tramontina, a Brazilian Company, Revives Cookware Making and a Town in the US

In April 2003, when a major cookware manufacturing facility closed in Manitowoc, Wisconsin, USA, ...

Economic Institute Joins the Bears: Brazil to Grow a Mere 2.3%

Brazil’s Institute of Applied Economic Research, IPEA, downgraded the country’s economic growth forecasts both ...

Drug and Corruption Scandal Brings Down Rio’s Top Cop

Rio’s top cop, the state’s head of civil police quit, becoming the latest victim ...

Brazil’s Petrobras Lending Up to US$ 574 Million to Small Suppliers

Petrobras, Brazil’s state-controlled oil and gas multinational is going to offer credit to small- ...

Lula: Let’s Show the World the Good Brazil

Showing the good things that exist in Brazil without denying the existence of problems. ...

Church Accuses Brazil of Violence Against Indians

Brazil’s Indian Missionary Council (Conselho Indigenista Missionário) (Cimi), which is linked to the Catholic ...

Best-seller Books, Plays and Movies

By Brazzil Magazine Velório à Brasileira (Wake Brazilian Style)—Comedy—After winning the big prize in ...

Brazil to Have World’s First Robotic-Arm Surgery Controlled by Patient’s Brain

Miguel Nicolelis,  a world-renowned Brazilian neuroscientist will perform the world’s first operation on a ...