Fueled by fuels and airfare, inflation reaches 0.48% in September

Section: Economic Statistics | Rodrigo Paradella | Design: Helena Pontes

October 05, 2018 09h00 AM | Last Updated: October 16, 2018 04h35 PM

Driven by higher fuel prices (4.18%) and airfare (16.81%), inflation was 0.48% in September, according to the Extended National Consumer Price Index (IPCA), released today by the IBGE. The rate for the last 12 months, in turn, was the highest recorded in 2018, with 4.53%.

Fuels and Air Flights were responsible for the 1.69% rise in the Transportation group in September, the highest this month. The change in the group was the highest for September since the implementation of the Plano Real, surpassing the 1.22% rate reached in 1994, even in the initial months of the plan.

There were also highs in the prices of Food and bevreges (0,10%), Housing (0,37%), Househod articles (0,11%), Health and personal care (0.28%), Personal expenses (0.38%) and Education (0.24%).

"In the case of September, the transportation category was the main impact. Fuels accounted for half of the index (0.24 percentage points). Gasoline, ethanol and diesel came up this month after deflation last month. That contributed a lot. Likewise, airfare also increased after a month of deflation," explained IPCA manager Fernando Gonçalves.

"In relation to gasoline, Petrobras authorized an increase of 7% in the period. Diesel oil had an increase of 13% in the refineries, but it ends up reaching the consumer. The dollar appreciation also contributed," he added.

Conversely, the prices of Apparel (-0.02%) and Communication (-0.07) fell slightly. "Apparel was affected by the month's promo deals, while, in communication, electronic devices were down," said Fernando.

Regionally, inflation was higher in Brasília (1.06%), Vitória (0.88%) and São Luís (0.72%), while it was more timid in Belém (0.06%) and Aracaju (0.08%). "Brasília was the only capital that stood above 1%. Mostly due to gasoline and airfare, which has big weight there. The lowest rate was in Belém, due to the fall in the price of acai berries and cassava flour," said the IBGE technician.

With less influence of transportation, INPC rises 0.30% in September 

The lower impact of Transportation, in relation to the IPCA, in the calculation of the INPC stopped the increase of the index, which was 0.30%. However, the result is the highest for the month in 2015, when the rate was at 0.51%. In the last 12 months, the index was 3.97%.              

"The INPC was lower because, in this case, transportation has less weight than in the IPCA. Food weighs more. In September, the impact of transportation was 0.17 percentage points (in the IPCA, the impact was 0.31 pp). As food had lower changes, this helped to hold the rate," analyzed Fernando. The IPCA, calculated by the IBGE since 1980, refers to families with income ranging from one to 40 minimum wages, regardless of source, and covers ten Metropolitan Areas of the country, as well as the municipalities of Goiânia, Campo Grande, Rio Branco, São Luís, Aracaju and Brasília. The INPC, in turn, was first calculated in 1979 and refers to families with income between one and five minimum wages, with the same geographic coverage as the IPCA.