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SÃO PAULO – The Expanded National Consumer Price Index (IPCA) rose to 0.24% in August, the Brazilian Institute of Geography and Statistics (IBGE) showed on Wednesday (9). The number coincided with the median of economists’ projections, which pointed to an increase of 0.24% compared to the previous month according to the Bloomberg consensus.
This is the highest one-month result in August since 2016, when the IPCA was 0.44%. In the year, the indicator accumulated an increase of 0.70%. In August 2019, the variation had been 0.11%.
In relation to August of last year, inflation increased by 2.44%, in line with what was projected by economists.
In the July measurement, inflation had already grown 0.36% monthly and 2.31% in the annual comparison.
Of the nine groups of products and services surveyed, six were discharged in August. The greatest variation came from transportation (0.82%), which also had the greatest positive impact on the index for the month (0.16 pp). The second largest contribution (0.15 pp) came from food and beverages, which registered an increase of 0.78%.
The housing (0.36%) and household items (0.56%) groups also increased, but slowed down compared to the previous month (0.80% and 0.90%, respectively). On the negative side, the highlight was the Education group (-3.47%), which contributed -0.22 pp to the August IPCA. The other groups were between the 0.78% decrease in clothing and the 0.67% increase in communication.
Transportation (0.82%) advanced for the third consecutive month, influenced, once again, by the behavior of gasoline prices, which rose 3.22% in August. Diesel oil (2.49%) and ethanol (1.29%) also registered positive variation, while vehicular gas fell 0.79%. The prices of transport services by application (0.37%) increased, after falling by 8.17% in July. Air fares (-1.97%) continue to fall, although the decrease was less intense than that registered in the previous month (-4.21%).
The food and beverage group (0.78%) accelerated compared to July, when it was close to stability (0.01%). Food for home consumption increased by 1.15%, mainly influenced by the increase in the prices of tomatoes (12.98%), long-life milk (4.84%), fruits (3.37% ) and meats (3.33%). Also noteworthy are the variations in soybean oil (9.48%) and rice (3.08%), which accumulated an increase of 19.25% in the year. On the other hand, there was a drop in the prices of onion (-17.18%), garlic (-14.16%), potato (-12.40%) and Rio de Janeiro beans (-5.85% ).
Food outside the home (-0.11%) continued to fall, although with less intensity than the previous month (-0.29%). While food went from -0.06% in July to -0.56% in August, snacks went from a drop of 0.86% to an increase of 0.78%, contributing 0.01 pp to the index of the month.
In the housing group (0.36%), the greatest impacts in August came from residential rent (0.32%) and electricity (0.27%), both with 0.01 pp. The variations in the electricity category ranged from -2.06% in Fortaleza to 3.17% in São Luís. There were tariff adjustments in two areas, both as of August 7: in Belém (0.13%), the adjustment was 2.86% and in Vitória (0.09%), 5.93%.
It is worth mentioning that the variations found in the item in question take into account, in addition to the rates charged, the PIS / COFINS rates, the contribution of public lighting and the rate flag. On May 26, ANEEL announced the maintenance of the green flag, in which there is no additional charge on the electricity bill, until December of this year.
The largest negative variation (-3.47%) and the largest negative contribution (-0.22 pp) in the IPCA in August came from the education group. Due to the suspension of face-to-face classes due to the Covid-19 pandemic, several educational institutions have granted discounts on tuition fees, highlights the IBGE. As a result, prices for regular courses fell 4.38%. The greatest drop was observed in pre-school education (-7.71%), followed by postgraduate (-5.84%), youth and adult education (-4.80%) and nurseries (-4.76 %).
The clothing group (-0.78%) also had a negative variation in August, more intense than that registered in July (-0.52%). There were decreases in the prices of men’s clothing (-0.74%), women’s (-1.23%), children’s (-1.46%) and footwear and accessories (-0.55%). Jewels, for its part, rose 2.32% and accumulated an increase of 10.11% in the year.
In communication (0.67%), the internet access subsection (8.51%) stood out, with an impact of 0.05 pp on the index for the month. The increase is due to the readjustment of the amount charged for the provision of broadband services in one of the surveyed companies.
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