Brazilian General Price Index should end 2022 at 5.5% and December may register 6th consecutive deflation, says FGV

The Brazilian General Index of Prices-Internal Availability (IGP-DI) recorded deflation (fall in prices) of 0.18% in November, according to data released today (07), in Rio de Janeiro, by the Getúlio Vargas Foundation (FGV). In October, there was more intense deflation: 0.62%.

Despite the deflations, the IGP-DI accumulates inflation of 4.71% in the year and 6.02% in 12 months. In November 2021, the index had deflated by 0.58% in the month and accumulated inflation of 17.16% in 12 months.

The reduction in the pace of falling prices observed from October to November was driven by wholesale and civil construction prices.

The deflation of the Broad Producer Price Index (IPA), which measures the wholesale, changed from 1.04% in October to 0.43% in November. The National Construction Cost Index (INCC) saw an increase in inflation, going from 0.12% in October to 0.36% in November.

And the Consumer Price Index (CPI), which measures retail, had a drop in the inflation rate, which fell from 0.69% in October to 0.57% in November.