Brazil’s National Broad Consumer Price Index (IPCA), which gauges the country’s official inflation, revealed a 0.21 percent drop in prices in November, as reported by the government’s statistics agency IBGE.
The figure was the lowest since July 2018, when the rate was down 0.23 percent. Considering the months of November alone, the result was the lowest since 1994.
In the 12-month period, inflation is up 4.05 percent, and 3.59 percent January–November.
In November last year, the IPCA saw an increase of 0.28 percent, compared to 0.48 percent in October 2018.
Deflation was observed in five of the nine categories of groups and services surveyed by IBGE.
Transport faced a 0.74 percent low in November, contributing with the biggest negative impact on the global rate. The drop in fuel prices (2.42 percent) was the main factor behind the outcome. Gasoline was reported to experience the sharpest fall—3.07 percent.
The most significant hike was seen in food and drinks—0.39 percent.