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Official inflation up to 0.86% in October


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The National Broad Consumer Price Index (IPCA), which gauges Brazil’s official inflation, stood at 0.86 percent in October this year. The rate is above the 0.64 percent from September this year and 0.10 percent from October last year. According to the Brazilian Institute of Geography and Statistics (IBGE), this is the highest IPCA for the month October since 2002 (1.31%).

The October performance brings the IPCA inflation rate to 2.22 percent year to date and 3.92 percent in the 12-month period.


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The October inflation was chiefly pulled by the 1.93 percent hike in food and drinks prices. Foods for household consumption were the main drivers behind this figure, as they went up 2.57 percent. Chief among the products with inflation are rice (13.36%), baked potato (17.01%), soybean oil (17.44%), and tomato (18.69%).


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Nonetheless, the inflation for foods in October was less intense than in September (2.28%).

Transport also saw a relevant impact in October’s inflation, up 1.19 percent. Air tickets, for instance, rose 39.83 percent and was the single item with the largest impact in October’s IPCA. Ticket prices were collected in August for those traveling in October.


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“The hike in air ticket prices is linked to the demand, since, with more flexible social distancing measures, some people have turned back to flying, which impacts the price policy of air companies,” said IBGE researcher Pedro Kislanov.

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