Inflation in Brazil in 2020 was 4.52%

The Consumer Price Index (IPCA) indicated that this figure is the highest recorded since 2016

The Brazilian Consumer Price Index (IPCA) closed 2020 with a level of 4.52%, which is the highest accumulated figure since 2016, after an increase of 0.21 percentage points compared to the previous year, according to data published this Tuesday by the Brazilian Institute of Geography and Statistics (IBGE).

The data reveals that the food and beverage group registered its highest level since 2002, with more than 14%, which caused an impact of 2.73 percentage points in the accumulated index of 2020.

This group was followed by housing, with a rise of 5.25% and a contribution of 0.82 percentage points. Household items grew 6% and contributed 0.23 percentage points of impact. These three groups accounted for almost 84% of the index in 2020.

In the food and beverages group (14.09%), the IBGE highlights that the greatest monthly variations were recorded in two different periods. First, in the months of March (1.13%) and April (1.79%), shortly after the start of the isolation measures adopted by the pandemic; and from September to December, with variations greater than 1.70% in the last four months of the year.

In the housing group (5.25%), the largest rise came from electricity, which stood at 9.14%. The only group that showed a negative variation was that of clothing prices (-1.13%), whose impact was -0.05 percentage points.

With respect to the month of December, the IPCA increased 1.35%, 0.46 percentage points more than the 0.89% in November. This is the highest monthly variation since February 2003 (1.57%) and the highest index for a month of December since 2002 (2.1%). The group of house prices had the greatest impact, with 0.45 percentage points and an expansion of 2.88% during the month.

The second largest contribution (0.36 percentage points) came from food and beverages, with an increase of 1.74%. It was followed by transportation (0.27 percentage points), with a variation of 1.36%, similar to that of the previous month (1.33%). The three groups accounted for 80% of the total impact in December.

K. Tovar

Source: Infobae

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