Brazil inflation up 0.48% in September

The National Broad Consumer Price Index (IPCA) increased 0.48 percent in September, the Brazilian Institute of Geography and Statistics (IBGE) reported today (Oct. 5).

The index, which gauges the country’s official inflation rate, sped up from August, when the country faced a 0.09 percent deflation. The inflation last month was also higher than that of September, 2017 (0.16 percent).

The IPCA stands at 4.53 percent for the twelve-month period (Oct. 2017–Sep. 2018). From January to September this year, inflation was reported at 3.34 percent.

Transport showed the biggest impact on September’s rate, up 1.69 percent after a 1.22% drop in August. The change was brought about by fuels and was the most significant for the month since the beginning of the Plano Real, in 1994.

Fernando Gonçalves, manager of the National System of Price Indexes, explained that the hike in the price of diesel—13 percent at refineries on August 31—made an impact on final consumers and the fuel prices.