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Housing and Food Drive Inflation Up in Brazil
Written by Germano Neves
Tuesday, 24 August 2004
Inflation in Brazil during the period between July 14 and August 13, gauged by the Getúlio Vargas Foundation's (FGV) Consumer Price Index (Índice de Preço ao Consumidor - IPC-S), was 0.80 percent, 0.04 percent higher than for the previous period.
According to the FGV's Brazilian Economics Institute (IBRE), the Food and
Housing groups exerted the biggest impact on the index. Together, the two groups
accounted for 78 percent of the composition of the IPC-S during the period.
The food group rose from 0.74 percent to 1.06 percent, led by
vegetables and legumes (7.39 percent), sweeteners (5.83 percent), and fish (0.74
percent), among other items that experienced price increases. Their aggregrate
weight in family food expenditures in the 12 capitals covered by the survey was
57 percent.
The FGV economists explained that the housing group, even
though it showed deceleration, declining from 1.25 percent to 1.02 percent,
exerted the biggest single influence on the IPC-S, on the order of 0.32 percent.
Among the 12 capitals surveyed, inflation accelerated in 7. The highest
rate was registered in Recife (1.38 percent), and the lowest, in Fortaleza (0.19
percent).
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