Economy

Brazil’s official inflation stands at 0.41% in November

The rate is up 5.13% year to date and 5.90% after 12 months

Andreia Verdélio

Published on 12/12/2022 - 12:41

Brasília

Greve de caminhoneiros provoca fila para abastecimento de combustível em posto de gasolina no Rio de Janeiro. — © Tomaz Silva/Agência Brasil

Driven by the increase in fuel and food prices, price index IPCA—Brazil’s official gauge of the inflation—stood at 0.41 percent in November this year. Despite the high, the result was lower than October’s 0.59 percent and the 0.95 percent registered in November 2021.

Before these two upticks, the index saw three months of deflation: 0.68 percent in July, 0.36 percent in August, and 0.29 percent in September.

Year to date, the indicator is up 5.13 percent and up 5.90 percent after 12 months. The figures were released by official statistics agency IBGE.

Of the nine groups of products and services surveyed, seven showed a growth in November. The greatest impacts on the month’s index stemmed from transportation (0.83%), which includes fuels, and food and beverages (0.53%). Together, the two groups contributed nearly 71 percent of November’s IPCA.

The IPCA reflects the inflation for families earning 1–40 minimum wages.