Brazil January inflation driven up to 0.32% by foods and drinks

The National Broad Consumer Price Index (IPCA), used to measure Brazil’s official inflation, stood at 0.32 percent in January, above the 0.15 percent observed in December and also above January 2018’s 0.29 percent.

The figure was released in Rio de Janeiro today (Feb. 7) by the country’s government-run statistics agency IBGE. In the 12-month period, the inflation was reported at 3.78 percent, slightly above the 3.75 percent seen in the 12-month immediately prior.

January’s inflation was pulled by foods and drinks, which declined in the last 30 days, closing out the month at 0.9 percent. Next come personal expenditures, up 0.61 percent. Together, foods and drinks plus personal expenditures accounted for some 90 percent of the index for the month.

The IPCA has been calculated by IBGE since 1980, and surveys families with a monthly income of one to 40 minimum wages, whatever the source of income, and covers ten metropolitan regions and ten municipalities. To make the estimate for the month, prices were compared after being collected from December 29, 2018, to January 29, 2019, with prices effective from November 29 to December 28, 2018.