The Broad Consumer Price Index-15 (IPCA-15), regarded as an inflation preview, experienced a 0.28% increase in August.
This was a 0.35 percentage point shift from July’s rate of -0.07%. These figures were released by the Brazilian Institute of Geography and Statistics (IBGE).
Since the beginning of the year, the IPCA-15 has seen a cumulative rise of 3.38%.
Over a year, it has increased by 4.24%, surpassing the 3.19% observed in the prior 12 months.
In August of the previous year, 2022, the rate was at -0.73%. Out of the nine categories analyzed, seven saw an uptick in August.
The most significant increase was 1.08% in the housing segment, impacting the overall number by 0.16 percentage points.
The IBGE indicates that the residential electricity rate’s increase (4.59%) played a crucial role in this inflation group’s climb.
This jump in electricity prices was partly due to the end of the inclusion of the Itaipu Bonus, which was credited to the previous month’s bills.
Furthermore, price adjustments were observed in three index coverage areas: Curitiba with a 9.68% increase, Porto Alegre at 5.44%, and São Paulo seeing a 4.21% rise.
Other sectors noting increases included health and personal care (0.81%) and education (0.71%), contributing impacts of 0.11 and 0.04 percentage points, respectively.
On the other hand, the food and beverage sector observed a decrease of -0.65%, resulting in a 0.14 percentage point contribution.
Other categories ranged from a decline in clothing (-0.03%) to an increase in personal expenses (0.60%).
In a recent market bulletin, analysts projected a rise in inflation for 2023, following over ten weeks of steady and declining forecasts.