In Brazil, the general price index falls by 2.20% in June and by 6.31% over 12 months

Brazil’s General Price Index – 10 (IGP-10) experienced a decline of 2.20% in June, according to the Brazilian Institute of Economics at Fundação Getulio Vargas (FGV Ibre).

This comes after a 1.53% fall in May.

So far this year, the IGP-10 shows a 4.14% decrease, with a 6.31% drop in the last 12 months.

For comparison, in June 2022, the IGP-10 rose by 0.74% for the month and accumulated a 10.40% increase over 12 months.

FGV Ibre price index coordinator, André Braz, notes that the continued decline in vital commodity prices, particularly diesel oil (falling from -5.63% to -15.80%), corn (dropping from -12.48% to -15.63%), and beef (declining from -1.05% to -6.17%), has impacted the index significantly.

June saw the Broad Producer Price Index (IPA-10), which holds a 60% weight in the IGP-10, fall by 3.14%.

This follows a 2.25% decrease in May. Meanwhile, the Consumer Price Index (IPC-10), which constitutes 30% of the IGP-10, fell by 0.18% in June, compared to a 0.60% variation in May.

Lastly, the National Construction Cost Index (INCC-10), representing the remaining 10% of the IGP-10, rose by 1.19% in June, a considerable increase from the 0.09% seen in May.

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