Industrial prices changed 0.12% compared to November 2025 (-0.35%), influenced by the mining and quarrying industries and basic metals. The value of the cumulative rate at the end of 2025, of -4.53%, was lower than that recorded in the same period of 2024 by more than 14 percentage points, a dynamic followed by seven out of 24 industrial activities investigated by the survey.

The information comes from the Producer Price Index (IPP) for Mining and Manufacturing Industries, released today (11) by the IBGE. The survey measures the prices of products “at the factory gate,” without taxes and freight, and covers the broad economic categories.

The four most intense changes were: mining and quarrying industries (3.13%); basic metals (2.24%); electrical machines, apparatus and materials (1.87%); and other transportation equipment (1.74%). 

Food was the most prominent industrial sector in the aggregate result, when comparing December and November prices. The activity was responsible for -0.19 percentage points (p.p.) of influence on the 0.12% change in the general industry. Still in this regard, other activities that also stood out were basic metals, with 0.15 p.p. of influence, mining and quarrying industries (0.13 p.p.) and other chemicals (-0.09 p.p.).

With the price changes in December, the cumulative indicator in the year, which compares prices in the reference month to those in December 2024, reached -4.53%.

According to Murilo Alvim, the IPP manager, the result was partially influenced by the 2.1% rise in the dollar against the real. “This result did not occur in a widespread manner across the sectors. Of the 24 activities surveyed, half increased and the others decreased. The sector with the greatest positive influence on the result was basic metals, driven mainly by the higher prices of non-ferrous metals, especially gold and copper, which accompanied the appreciation of these commodities on the international market, further reinforced by the rise in the dollar this month.”

Among the activities that, in December 2025, had the biggest changes in the cumulative index in the year, the following stood out: printing (16.63%), mining and quarrying industries (-14.39%), food (-10.47%) and wood (-9.85%). While the main influences were recorded in food: -2.70 p.p., mining and quarrying industries: -0.69 p.p., petroleum refining and biofuels: -0.56 p.p. and basic metals: -0.56 p.p.

“The negative result of the general indicator in cumulative index in the year was mainly influenced by the food sector, with emphasis on the lower sugar prices in the period, following the decline in prices on the international market, by the mining and quarrying sector, as a consequence of the lower prices of crude petroleum oil, reflecting an increase in the global production and high stocks during much of the year, and by iron ore, also following an increase in the global supply, while the world demand remained moderate, and by the sector of petroleum refining and biofuels, following the reduction of petroleum derivatives, such as diesel fuel and gasoline,” added the manager.

Among the Broad Economic Categories, the result of December compared to November reflected as follows: 0.53%, in capital goods; 0.34% in intermediate goods; and -0.25% in consumer goods – with durable consumer goods accumulating a change of -0.01%, while semi-durable and non-durable consumer goods, -0.30%.

The cumulative index for the year, in the last month of 2025, recorded the following changes among the Broad Economic Categories: 0.78%, in capital goods; -7.27% in intermediate goods; and -1.53% in consumer goods – with durable consumer goods accumulating a change of 3.09%, while semi-durable and non-durable consumer goods, -2.40%.

Compared to values ​​from 2024, the price change of the general industry in 2025 reversed the sign of the cumulative change in that year until the month of December: -4.53% against 9.28% – a movement followed by intermediate goods and consumer goods, which had cumulative changes of 8.31% and 11.19%, respectively, in December 2024. While the change in the prices of capital goods showed the same sign and a lower change than that observed in that month (7.20%). At the disaggregated levels of consumer goods, durable consumer goods presented the same sign and a lower change than that observed in the previous year, which had been 3.63%, and semi-durable consumer goods reversed the sign of the change observed in that period (12.74%).