IGP-DI accelerates fall to 1.22% in September, says FGV

IGP-DI accelerates fall to 1.22% in September, says FGV

The fall in the IGP-DI (General Index of Prices-Internal Availability) intensified to 1.22% in September, after falling 0.55% in the previous month, as commodity and fuel prices continued to press, informed the FGV (Fundação Getulio Vargas) this Thursday (6).

The expectation in a Reuters poll was for deflation of 0.85%, and the September result led the index to accumulate a 12-month high of 7.94%.

In the month, the IPA-DI (Broad Producer Price Index), which accounts for 60% of the general indicator, dropped 1.68%, down from 0.63% in the previous month.

The pressure for the consumer in September increased, as the CPI (Consumer Price Index) –which accounts for 30% of the IGP-DI– had a positive oscillation of 0.02% in the period, down 0.57% In August.

“Commodity and fuel prices continue to drive the IPA and CPI deceleration. However, the IPA anticipates a greater contraction of inflationary pressures”, explained in a note the coordinator of price indices, André Braz.

“The diffusion index – which measures the percentage of products and services with an increase in their prices – has been showing a significant decline”, he added.

According to Braz, in September 2021, 69% of the items that make up the IPA had high prices, while in the same month this year the percentage dropped to 30%.

In the CPI, the number of items with price increases increased from 65% in September 2021 to 58% in September 2022.

The INCC (National Construction Cost Index), in turn, registered a rise of 0.09% in September, repeating the same rate as in August.

The IGP-DI calculates producer, consumer and civil construction prices between the 1st and the last day of the reference month.

(Reuters)

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