Brazil’s official inflation 0.24% in August

Brazil’s official inflation, as gauged by the National Broad Consumer Price Index (IPCA), stood at 0.24 percent in August this year. The result in below July’s 0.36 percent, but is the highest value for the month of August since 2016.

As per data released today (Sep. 9) by the government’s statistics agency IBGE, the IPCA is 0.70 percent year-to-date and 2.44 percent for the 12-month period.

In August, the inflation was driven chiefly by the increase in transport costs (0.82%) and foods (0.78%).

Among the transport items with a hike in prices this months are gasoline (3.22%), diesel oil (2.49%), ethanol (1.29%), and transport app services (0.37%).

Most noteworthy among foodstuffs were tomato (12.98%), soybean oil (9.48%), and UHT milk (4.84%).

On the other hand, deflation was reported in clothing (-0.78%), personal expenditures (-0.01%), and education (-3.47%).