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Leveraged by rise in airfare, inflation reaches 0.24% in October

Section: Economic Statistics | Umberlândia Cabral

November 10, 2023 09h00 AM | Last Updated: November 10, 2023 04h13 PM

Airfare prices rose 23.70% in October and contributed to the Brazilian inflation - Picture: IBGE Archive

After rising 0.26% in the previous month, the Brazilian inflation was 0.24% in October. It is the fourth consecutive month of positive rates in this indicator. The biggest individual impact on the October´s result came from airfare prices, which rose 23.70% compared with the previous month. This item had risen 13.47% in September. In the year, the cumulative inflation in Brazil is 3.75% and, in the last 12 months, 4.82%. The data are from the Extended National Consumer Price Index (IPCA), released today (10) by the IBGE.

“It is the second consecutive month that airfare rises. This rise might be related with some factors, like the price of aviation kerosene and the coming holidays in the end of the year,” explains André Almeida, manager of the survey.

Eight out of nine groups of products and services investigated by the survey registered inflation. Among them, the highlightes were transportation (0.35%) and food and beverages (0.31%), which have higher weight in the index. Besides the increase in airfare, the group of transportation highlighted the rises of taxi (1.42%) and diesel fuel (0.33%), the only item of fuels (-1.39%) that recorded inflation. In this period, the prices of gasoline (-1.53%), vehicular gas (-1.23%) and ethanol (-0.96%) dropped.

“Gasoline is the sub-item with the highest weight among 377 in the IPCA´s basket. The drop in October was the biggest negative impact on the index (-0.08 pp) and contributed to cool down the result of the group of transportation,” says the manager.

In the group of food and beverages, which comes from four deflations in a row, food at home increased 0.27%. The rise was leveraged by the increase in the prices of potatoes (11.23%), onions (8.46%), fruits (3.06%), rice (2.99%) and meat (0.53%).

“Rice accumulates a rise of 13.58% in the year. This result is influenced by a lower supply, since it is in the period between two harvests and the demand for exporting increased. In the case of potatoes and onions, the lower supply is the result of the increase of rainfall in the producing regions, which jeopardized the harvest,” explains Almeida. On the other hand, meat prices have been falling since January, with a cumulative deflation of 11.08% in the period. Othe basic items of Brazilians dropped in October, like long-life milk (-5.48%) and hen eggs (-2.85%).

Food away from home (0.42%) became more expensive with the increase in meals (0.48%) and snacks (0.19%). “On the whole, this group has been rising continuously, though it accelerated in October, changing from 0.12% in September to 0.42%,” says the researcher. Among the groups surveyed by the IPCA, the only one that registered deflation was that of communication (-0.19%), leveraged by the drop in the prices of telephone sets and landline telephone plans.

INPC rises 0.12% in October

The rise of the National Consumer Price Index (INPC) was of 0.12% in October, close to that recorded in the previous month (0.11%). The index registers a cumulative rise of 3.04% in the year and of 4.14% in the last 12 months. Food products rose 0.23% in October, after dropping 0.74% in September. The prices of non-food products changed 0.09%, below that registered in September (0.38%).

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. The next result of the IPCA, related to November, will be released on December 12.

Keywords: Inflação chega a 0, 24% em outubro, impulsionada por alta das passagens aéreas

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