Producer price growth in Brazil accelerated to 1.11% in October, according to the IBGE

Producer prices in Brazil rose 1.11% in October, marking the third consecutive month of increases, the Brazilian Institute of Geography and Statistics (IBGE) reported on Wednesday.

The producer price index (PPI) showed an acceleration in growth after advances of 0.75% in August and 1.06% in September.

The October result brought the cumulative index over 12 months to a decline of 6.13%, after a deflation of 7.97% in the previous month.

Among the 24 activities analyzed, IBGE highlighted that 14 recorded positive changes: the greatest changes concerned beverages (6.12%), extractive industries (5.26%), other means of transport (2.19%) and food products (2.00%).

The largest influences come from food products (0.48 percentage points), extractive industries (0.26 pp), beverages (0.15 pp) and oil refining and biofuels (0.10 pp).

“This three-month streak of positive sector results comes after six consecutive months of decline. From August to October, the cumulative increase is 2.96%. Despite this, the PPI has yet to reverse the negative results of the long-term indices. term,” said Murilo Alvim, IPP analyst at IBGE.

The PPI measures the change in product prices at the “factory gate”, i.e. without taxes and freight, of 24 activities in the mining and processing industries.

Source: Terra

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