Consumer Prices in Brazil Rise Month to Mid-November on Food, Fuel | So Good News
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By Jeffrey T. Lewis
SAO PAULO-Brazilian consumer prices rose in the month to mid-November as food prices rose and fuel prices rose after five months of decline.
Consumer prices rose 0.53% from Oct.16 to Nov. 15 and increased by 6.17% from the previous year, the Institute of Geography and Statistics in Brazil, or IBGE, said on Thursday.
Consumer prices rose 0.16% in the month to mid-October and rose 6.85% in the 12 months to mid-October.
Food prices rose 0.54% in the month, after an increase of 0.21% last month, tomato prices rose 17.79% and onion prices rose 13.79%, IBGE said. Long-life milk prices fell by 6.28% during the period, following a 9.91% decline last month.
Oil prices fell in Brazil as low oil prices on international markets allowed state-run oil company Petrobras to cut costs, and after Congress passed a law to end state taxes on gasoline, diesel and other fuels.
Transportation prices, which include fuel, rose 0.49% in the month to mid-November, after falling 0.64% in the month to mid-October, while fuel prices rose 2.04% following a 5.92% decline the previous month.
Contact Jeffrey T. Lewis at [email protected]
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