Meat price hike pulls up November inflation

The 8.09 percent increase in the price of meats was the main driver behind Brazil’s inflation, as measured by the National Broad Consumer Price Index (IPCA), in November.

The country’s government statistics agency IBGE announced today (Dec. 6) that the IPCA stood at 0.51 percent in November, the highest rate for the month since 2015 (1.01%). Food and drinks in general experienced a price hike of 0.72 percent.

“Food in the household had been on the wane for six months. The increase now was pulled by meats. To make clear how strong the impact of the rise in meat prices was, the category food and drinks without the meats are reported to have faced deflation of 0.12 percent,” said IBGE researcher Pedro Kislanov.

The main impacts were reported to stem from food (0.72%), personal expenditures (1.24%) and housing (0.71%). Inflation also had an effect on transport (0.30%), clothing (0.35%), health and personal care (0.21%), and education (0.08%).