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IPCA

Inflation was 0.95% in November, the highest for November since 2015

Section: Economic Statistics | Alerrandre Barros

December 10, 2021 09h00 AM | Last Updated: December 10, 2021 03h29 PM

Gasoline accrues rise of 50.78% in 12 months - Photo: Helena Pontes/IBGE News Agency

After registering 1.25% in October, the inflation dropped to 0.95% in November, though it was the highest rate for November since 2015 (1.01%). The cumulative index in the year stayed at 9.26% and, in the last 12 months, at 10.74%, above the rate of 10.67% registered in the 12 immediately previous months. The cumulative index in 12 months was the highest one since November 2003 (11.02%). In November 2020, the monthly change amounted to 0.89%.

The data are from the Extended National Consumer Price Index (IPCA), released today (10) by the IBGE.

 

The rise was leveraged by transportation (3.35%), influenced by the prices of fuels, especially gasoline (7.38%), which exerted, once again, the biggest individual impact on the month´s index (0.46 p.p.). The prices of ethanol (10.53%), diesel oil (7.48%) and vehicular gas (4.30%) also rose. Considering the November´s figure, gasoline accrues a rise of 50.78% in 12 months, ethanol, 69.40% and diesel oil, 49.56%.

The prices of new cars (2.36%) and used cars (2.38%) also weighted in the month´s inflation. On the other hand, airfare retreated 6.12% in November, after rising 28.19% in September and 33.86% in October.

In housing (1.03%), the second biggest impact (0.17 p.p.) on the overall index, the result was close to the previous month (1.04%), pressed, once again, by electricity (1.24%).

“In addition to the water scarcity tariff flag, which adds R$14.20 to the electricity fare at each 100 kWh consumed, in force since September, the fares in Goiânia, Brasília and São Paulo were also adjusted. In Belém and Porto Alegre, the retreat was due to the reduction in PIS/Cofins,” details Pedro Kislanov, manager of the IPCA.

Having already risen 38.88% in the last 12 months, the rise of 2.12% in bottled gas also stood out.

Inflation decelerates with Black Friday discounts

In contrast, the overall index in November decelerated with the retreat in food and beverages (-0.04%), due to the drop of 0.25% in food away from home, influenced by snacks (-3.37%). Meals (1.10%) accelerated in relation to the previous month (0.74%).

More intense drops were recorded in long-life milk (-4.83%), rice (-3.58%) and meat (-1.38%), pressing food at home (0.04%). On the other hand, the prices of onions (16.34%), which had dropped in October (-1.31%), and of ground coffee (6.87%) significantly rose. Other sub-items like refined sugar (3.23%), chicken pieces (2.24%) and cheese (1.39%) remain rising.

The group of health and personal care (-0.57%) also influenced the deceleration of the index, as a result of the drop in the prices of items of personal hygiene (-3.00%), especially perfumes (-10.66%), make-up articles (-3.94%) and skin care products (-3.72%).

Furthermore, the change in health plans (-0.06%) remains negative, reflecting the reduction of 8.19% established in July by the National Regulatory Agency for Private Health Insurance and Plans (ANS) for individual health plans. On the rising side, the prices of pharmaceuticals increased 1.13%.

“Black Friday helps to explain both the drop in snacks and in items of personal hygiene. We noticed several sales promotions of snacks, especially in the fast-food chains in the period. And in the case of items of personal hygiene, a number of national brands offered discounts in the prices of products in November. Unlike other countries, the discounts are not offered in a single day in Brazil. The discounts were offered along the month,” explains Pedro Kislanov.

IPCA retreats only in Belém

Except for the metropolitan area of Belém (-0.03%), all the areas surveyed rose in November. The negative change in Belém is mainly due to the items personal hygiene (-6.51%) and electricity (-1.92%). The highest rise was in the municipality of Campo Grande (1.47%), where gasoline (8.89%) and new cars (4.46%) weighted.

INPC rose 0.84% in November

The National Consumer Price Index - INPC rose 0.84% in November, 0.32 p.p. below the October´s rate (1.16%). The cumulative index in the year stayed at 9.36% and, in 12 months, at 10.96%, below the rate of 11.08% registered in the 12 immediately previous months. The rate had been 0.95% in November 2020.

After the rise of 1.10% registered in October, food products recorded a negative change (-0.03%) in November. Non-food products remained rising (1.11%), though the result stood below that reported in the previous month (1.18%).

All the areas recorded positive changes in November. The lowest index was registered in the metropolitan area of Belém (0.11%), due to the retreat in personal hygiene (-5.89%) and electricity (-1.91%). The highest change was in the metropolitan area of Salvador (1.31%), mainly impacted by the rise of 10.80% in the prices of gasoline.

More about the surveys

The IPCA encompasses households with earnings between 1 and 40 minimum wages, whereas the INPC, households with earnings between 1 and 5 minimum wages, living in the metropolitan areas of Belém, Fortaleza, Recife, Salvador, Belo Horizonte, Vitória, Rio de Janeiro, São Paulo, Curitiba, Porto Alegre, as well as in the Federal District and in the municipalities of Goiânia, Campo Grande, Rio Branco, São Luís and Aracaju. Access the data on Sidra. And get to know more the IPCA in IBGE Explains.



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