Rio de Janeiro – The Broad Consumer Price Index (IPCA, in the Portuguese acronym), i.e. Brazil’s official inflation index, ended August at 0.25%. In July, the rate stood at 0.01% and in August last year, at 0.24%.
According to data released by the Brazilian Institute of Geography and Statistics (IBGE) this Friday (5th), the IPCA stood at 4.02% year-to-date through August and at 6.51% in the twelve-month period, slightly above the top end of the government’s target range, which is 6.5%.
Inflation in August was again pushed up by housing expenses with a 0.94% rate, accounting for more than half the IPCA. The leading individual items causing the hike in the index were domestic workers, up 1.26%, and electricity tariffs, up 1.76% in August.
Food, in turn, had a deflation of 0.15% and prevented a steeper hike in the IPCA.
*Translated by Rodrigo Mendonça
