Brazil: Producer prices fall 3.11% in August compared to July, says IBGE

Producer prices in Brazil fell 3.11% in August, the Brazilian Institute of Geography and Statistics (IBGE) reported on Wednesday, September 28. In July, the Producer Price Index (IPP) had risen 1.21%.

It is the largest negative variation since the beginning of the historical series in 2014.

The result brought the accumulated result in 2022 to +7.91%. In 12 months, the IPP retreated from 18.04% in July to 12.16% in August.

Only eight of the 24 activities analyzed by IBGE showed an increase in August.

In the month, the four most significant variations were in: the extractive industries (-14.18%); oil refining and biofuels (-6.99%); metallurgy (-3.91%); and foodstuffs (-3.74%).

The most significant influence was in oil refining and biofuels, responsible for -0.95 percentage points (p.p.) in the -3.11% variation of the overall industry.

Other noteworthy activities were food, with -0.88 p.p. of influence, extractive industries (-0.79 p.p.), and metallurgy (-0.25 p.p.).

With information from InfoMoney

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