Rio de Janeiro – The Extended National Consumer Price Index (IPCA) was down 0.21% in November, the Brazilian Institute of Geography and Statistics (IBGE) reported this Friday (7). The index is the official measure of inflation in Brazil.
The result was the lowest since July 2017, which had seen a 0.23% drop. It was also the lowest since 1994, the year economic reform Plano Real was launched.
In the 12 months through November, inflation reached 4.05%, while the year-to-date rate hit 3.59%. November 2018 had seen the IPCA go up 0.28%, while October 2018 registered a 0.45% hike.
November deflation was driven by five out of nine product and service categories tracked by the IBGE. Transportation had the sharpest drop, with Housing in second.
Household Items and Food and Beverages were the categories in which prices went up the most.
Translated by Gabriel Pomerancblum
