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The General Price Index – Internal Availability (IGP-DI) 1 changed by 0.06% in January. The CMA thermometer predicted an increase of 0.33%. In the previous month, the rate had been 0.31%. With this result, the index accumulates an increase of 3.01% in 12 months. In January 2022, the index had increased by 2.01% and accumulated an increase of 16.71% in 12 months.
“The IGP-DI recorded the lowest interannual rate since September 2019, when it accumulated an increase of 3%. The main contribution to the slowdown in the IGP-DI came from producer inflation which, in this edition, accumulated an increase of 1.89% in 12 months, the lowest since March 2018, when it fell 0.48%. Important commodities registered a significant drop for producers, with emphasis on beef (from -0.44% to -1.82%) and poultry (from -2.26% to -3.36%)”, says André Braz, Price Indices Coordinator.
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The Broad Producer Price Index (IPA) fell 0.19% in January. In the previous month, the index had presented a rate of 0.32%. In the analysis by processing stages, the rate for the Final Goods group varied from -0.33% in December to -0.04% in January. The main responsible for the less intense drop was the processed food item, whose rate went from -0.76% to -0.47%. The Final Goods index (ex), which results from the exclusion of fresh food and fuels for consumption, changed 0.15% in January, compared to a drop of 0.19% in December.
The Intermediate Goods group rate went from -0.83% in December to -1.19% in January. The main responsible for this decline was the subgroup materials and components for manufacturing, whose rate went from 0.39% to -0.21%. The Intermediate Goods (ex) index, calculated after excluding fuels and lubricants for production, fell 0.60% in January, compared to a drop of 0.06% in the previous month.
The Raw Materials stage changed 0.79% in January, after rising 2.28% in December. The following items contributed to this movement: iron ore (16.75% to 7.05%), cattle (2.57% to -1.08%) and coffee beans (5.19% to 0.92%). In the opposite direction, it is worth mentioning, fresh milk (-4.58% to 0.03%), soybeans (-2.08% to -1.53%) and corn grains (-0.33% to 0.79%).
The Consumer Price Index (IPC) rose 0.80% in January, after changing 0.35% in December. Three of the eight expense classes that make up the index registered an increase in their rates of change: Education, Reading and Recreation (-0.07% to 3.28%), Transport (-0.07% to 0.92%) and Miscellaneous Expenses (0.03% to 0.97%) . In these expense classes, it is worth mentioning the behavior of the following items: formal courses (0.00% to 7.45%), gasoline (-1.21% to 1.12%) and banking services (0.00% to 1.26%).
In contrast, the groups Food (0.73% to 0.48%), Clothing (0.87% to -0.08%), Health and Personal Care (0.55% to 0.42%), Housing (0.31% to 0.26%) and Communication (0.74% to 0.73%) showed a decrease in their variation rates. These expense classes were influenced by the following items: vegetables and legumes (5.17% to -0.27%), clothing (1.09% to -0.20%), hygiene and personal care items (0.32% to -0.17%), residential rent ( -0.23% to -1.08%) and mobile phone tariff (0.70% to -0.40%).
Source: Crops & Market | Getúlio Vargas Foundation
