Prices up 0.16% in September in Brazil

Brazil's official inflation, as measured by the National Broad Consumer Price Index (IPCA) closed out September with a 0.16% hike, below the 0.19% reported for August. Last year, the IPCA for September had been observed at 0.08%.

In the first nine months this year, the accumulated rate stands at 1.78%, way lower than the 5.51% in the same period in 2016. This is the lower accumulated value in September since 1998 (1.42%).

The IPCA was made public today (Oct. 6) by the Brazilian Institute of Geography and Statistics. The index showed an accumulated expansion in the 12-month period of 2.54%—higher than the 2.46% registered in the 12 previous months, but considerably lower than the 4.5% target set by the Central Bank.

In September, of the nine groups of goods and services surveyed, only food and drink (-0.41%), and housing (-0.12%) showed deflation. Transport was the highlight for price hikes, with 0.79%.

Translated by Fabrício Ferreira