Pressed by food, November inflation rises to 0.28%
Brazil’s official inflation in November stood at 0.28 percent, up from October’s 0.24 percent. The hike in food prices had the biggest impact on the result of the consumer price index IPCA, published Tuesday (Dec. 12) by the statistics bureau IBGE. In 12 months, the IPCA reached 4.68 percent.
The IPCA measures inflation for families earning up to 40 minimum wages. The 12-month result lies within the government’s target limit of 3.25 percent, with a tolerance of 1.5 percent, i.e. up to 4.75 percent.
Food and beverages
Of the nine groups of products and services surveyed by IBGE, six saw an increase in prices. Chief among them was food and beverages, which rose by 0.63 percent—more than double the figure for October (0.31%). The growth represents 0.13 percentage points in the IPCA.
IBGE Research Manager André Almeida named the weather as being responsible for the positive variation in prices. “Higher temperatures and more rainfall in various regions of the country influence the food harvest, especially those that are more sensitive to the climate, such as tubers, legumes, and vegetables,” he said.
