MercoPress. South Atlantic News Agency

Further deflation reported in Brazil

In the first three quarters of 2022, about 1.8 million travelers from around the world landed in Brazil on a tourist visa

Brazil's General Price Index - Market (IGP-M) registered deflationary figures yet again in October this year (0.97%) after a 0.95% drop the month before, it was reported by Agencia Brasil.

According to the Getulio Vargas Foundation (FGV), the IGP-M has accumulated inflation rates of 5.58% for the year and 6.52% interannually.

The Wholesale Price Index (IPA), which measures the wholesale market, fell 1.44% in October, after a 1.27% drop in September.

The National Construction Cost Index (INCC) also showed a decrease. It fell from 0.10% in September to 0.04% in October, while the Consumer Price Index (CPI), which measures retail activity, went up 0.5% in October, after a 0.08% deflation in the previous month.

Meanwhile, Brazil's Agency for International Tourism Promotion (Embratur) reported Friday that over 718,000 foreign travelers had purchased airline tickets for the upcoming summer season (between December 2022 and March 2023), Agencia Brasil said.

The survey is from Embratur's Marketing Intelligence and Competitive Management at the International Air Transport Association (IATA) until the second half of October 2022.

About 54% of international tickets to Brazil are bought less than two months in advance, Embratur underlined: “The summer in Brazil is, without a doubt, the most requested time [of the year] by foreign tourists and, in 2022/23, they will come back to the country in large numbers,” the agency said in a statement.

“According to the survey, considering tickets purchased to Brazil until the beginning of October, the numbers for 2022 are only 5.3% below those recorded in 2019 [before the pandemic],” Embratur's statement went on.

In the first three quarters of 2022, about 1.8 million travelers from around the world landed in Brazil on a tourist visa, three times as many as during all of 2021, when some 596,700 foreigners visited the country.

(Source: Agencia Brasil)