Wednesday, December 8

Inflation in Brazil accelerates in October and reaches its highest level since 2002


One of the factors that explain this behavior of inflation is the soaring of gasoline, which was 3.1% in October. In the last 12 months, the gas cylinder for home use increased 37.8% and the electricity tariff, affected by the drought, rose 30.7%. “The rise in gasoline is related to the readjustments applied by Petrobras,” Pedro Kislanov, head of the IBGE report, said today.

In the last 12 months, the gas cylinder for home use increased 37.8% and the electricity tariff, affected by the drought, rose 30.7%. October inflation, 1.25%, was higher than the projection of the daily Valor Economico, which had placed it at 1.06%. (ANSA).

The indicator for October is above market expectations, which expected a rise of around 1% in October, according to estimates from consultants and financial institutions surveyed in the Central Bank’s Focus survey. In addition, the October result marks an acceleration compared to September, when the price rise was 1.16%, with a cumulative increase above double digits for the first time in more than five years.

“The nine groups of products and services surveyed had increases in October,” IBGE said in its report. “The greatest impact (on the general index) and the greatest variation (2.62%) came from Transport, which accelerated in relation to September (1.82%),” he said. The second largest contribution to the advance in October is due to the increase in prices of food and beverages (1.17%), detailed the statistical institute. The government attributes the rise in prices to the increase in the prices of commodities and oil at the international level.



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