Industrialized product prices in Brazil soar 3.36% in January

RIO DE JANEIRO, BRAZIL – The Producer Price Index (PPI), which gauges the price variation of industrialized products at the factory gate, registered inflation of 3.36% in January. The rate is higher than the December (0.39%) and January (0.35%) indexes.

According to data released today, March 2nd, in Rio de Janeiro, by the Brazilian Institute of Geography and Statistics (IBGE), the PPI accumulated inflation of 22.96% in 12 months.

In January, 24 industrial activities posted an increase in their products’ prices. The main highlights among the segments are the extractive industries (10.70%), metallurgy (6.10%), and oil refining and alcohol products (5.30%).

The four major categories of use also showed inflation, particularly intermediate goods, i.e., industrialized supplies used in the productive sector (4.91%), and capital goods, i.e., machinery and equipment used in the productive sector (3.63%).

Durable consumer goods rose 2.14%, while semi- and non-durable consumer goods registered 0.73% inflation in the month.

Source: Agencia Brasil

Related coverage: Mercado Libre to invest R$10 billion in Brazil in 2021 · Will Brazil see a 75 basis-point Selic hike in March? · Brazil's oil production up 5.4% between December and January · Brazil's Economy Minister says he would rather leave than "push Brazil down the wrong path"

More: Brazil news in English, every day from The Rio Times.

This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief