Brazil: Inflation by the General Market Price Index rises 0.45% in December and registers an increase of 5.45% in 2022

The Brazilian General Price Market Price Index  (IGP-M) changed by 0.45% in December, after falling by 0.56% in the previous month. In the year, the index accumulated an increase of 5.45%. In December 2021, the index had changed by 0.87% and had accumulated an increase of 17.78% in 12 months.

“The last edition of the 2022 IGP-M shows acceleration in the prices of important foodstuffs for producers and consumers”, highlighted the coordinator of the Price Indexes at FGV-Ibre, André Braz, in a note.

According to him, in the producer index, the biggest increases were: beans (from -1.45% to 15.36%), cattle (from -2.20% to 1.55%) and refined soybean oil (from 2.57% to 7.35%). At the consumer level, the highest rises were recorded for fresh foods, especially: tomatoes (from 18.13% to 19.12%) and onions (17.36% to 24.80%).

The Broad Producer Price Index (IPA) increased by 0.47% in December, after falling by 0.94% in November. In the analysis by stages of processing, the rate of the Final Goods group fell 0.29% in December. In the previous month, the group’s rate had been 0.13%. The rate of Intermediate Goods changed from -0.11% in November to -0.30% in December. And the stage of Raw Materials rose 2.09% in December, after falling 2.86% in November.

The Consumer Price Index (CPI) increased by 0.44% in December, after rising 0.64% in November, while the National Construction Cost Index (INCC) increased by 0.27% in December, compared to 0.14% in November.

Despite being considered the indicator of the closed month, for the calculation of the IGP-M, prices collected from the 21st of the previous month to the 20th of the current month (reference) are compared with those of the immediately previous 30-day cycle.

With information from Valor Econômico