Commodity prices up 5% in October

The price of commodities rose by 5.02% in October against the previous month. In the 12-month period ending in October, the Brazilian Commodities Index (IC-Br), measured monthly by the Central Bank (BC), went up 9.14%.

The IC-Br is based on the variation, in Brazilian currency, in the prices of primary products negotiated overseas. In order to calculate it, the Central Bank observes goods that are key to the dynamics in the prices set for the Brazilian consumer.

Last month, agriculture (including beef, cotton, soybean oil, wheat, sugar, corn, coffee, rice, and pork) accounted for a 7.69% rise in prices.

As for energy (oil, natural gas, and charcoal), the sector was reported to decline by 3.94%, whereas metals (aluminum, iron ore, copper, tin, zinc, lead, and nickel) showed a positive variation: 2.06%.

The international index for commodity prices calculated by the Commodity Research Bureau (CRB) was up 1.86% in October and 12.54% in the 12-month analysis.

Translated by Fabrício Ferreira