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Montevideo, November 14th 2018 - 17:38 UTC

December inflation doubles in Brazil but at an annualized 5.51% remain on target

Sunday, December 29th 2013 - 08:35 UTC
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This year's inflation is below the 7.82% of 2012 This year's inflation is below the 7.82% of 2012

Brazil's general price index, known as the IGP-M, more than doubled in December, posting a rise of 0.60% compared with a 0.29% increase in November, the Getulio Vargas Foundation said Friday.

 Despite the increase, the latest figure came in line with analysts' expectations for an increase of 0.57% to 0.75%. The December IGP-M figure measured prices from Nov. 21 to Dec. 20. The IGP-M measures inflation adjusted for annual rental contracts of housing and commercial properties across Brazil.

The index rose 5.51% this year compared with a 7.82% increase in 2012. The annual figure also came in line with economists' expectations.

Wholesale prices, which carry a 60% weighting in the overall index, gained 0.63% in December compared with a 0.17% rise in November. Consumer prices, which have a 30% weighting, increased 0.69% from a 0.65% rise previously.

Construction costs, which have a 10% weighting, rose 0.22% compared with a 0.27% increase.

Categories: Economy, Brazil.

Top Comments

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  • ChrisR

    Do the “weightings” compare with reality or has the market pattern changed a little?

    The only thing I know is that the people in government recording this WON'T know.

    Dec 29th, 2013 - 10:22 am 0
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