Economy

September inflation in Brazil reaches 0.26%

The sharpest hike behind the result was gasoline, up 2.8%

Cristina Indio do Brasil

Published on 11/10/2023 - 13:50

Rio de Janeiro

Posto de gasolina em Pinheiros — © Rovena Rosa/Agência Brasil

Brazil’s inflation in September stood at 0.26 percent. The proportion is 0.03 percentage points (pp) higher than August’s 0.23 percent.

According to statistics bureau IBGE, which released the survey on Wednesday (Oct. 11), the 2.80 percent increase in gasoline was the main pressure on the result.

This sub-item has the largest individual contribution (0.14 pp) to the consumer index IPCA, used as the gauge for the country’s official inflation.

Year to date, inflation has reached 3.50 percent. Over the last 12 months, it stands at 5.19 percent, up from 4.61 percent for the previous 12 months. In September 2022, the variation was -0.29 percent.

With a 0.47 percent hike in prices in September from August, housing was another group putting pressure on the indicator. Residential electricity—the group’s biggest contributor (0.04 pp)—rose by 0.99 percent.

Consumer index

According to the IBGE, the IPCA is based on the incomes of families making one to 40 minimum wages across Brazil’s ten largest metropolitan regions plus the Federal District and the state capitals of Goiás (Goiânia), Mato Grosso (Campo Grande), Acre (Rio Branco), Maranhão (São Luís), and Sergipe (Aracaju).