Brazilian Rio citizens purchase in the open-air market. "Sao Paulo Page"
[compiled by South American Overseas Chinese Daily Network Zou Xing reported on October 12] According to data released by the Brazilian National Institute of Geography and Statistics (IBGE) on the 11th, affected by the sluggish gasoline prices, the Brazilian Brazilian html's national consumer price index (IPCA, Brazil's official inflation indicator) fell again in September, with a deflation rate of 0.29%.
Brazil's Sao Paulo Page reported that this is the third consecutive month of IPCA decline, and it is also the largest drop in the same period in September since the implementation of the Plano Real in 1994.
IPCA fell by 0.36% and 0.68% in July and August this year, respectively. Brazil has never seen a three-month deflation in three consecutive months since 1998.
In addition, the cumulative inflation rate in the past 12 months ended September was 7.17%, the lowest since April 2021, with the cumulative inflation rate at that time being 6.76%.
IBGE pointed out that among the nine categories of products and services surveyed, the prices of four categories of products decreased.
Transportation sector is the main factor causing deflation, with a price drop of 1.98%, less than the 3.37% drop in August, contributing 0.41% to the overall decline in September; communications (-2.08%), food and beverages (-0.51%) contributed 0.11% to the overall decline, ranking second.
In terms of price upward trend, the highest inflation rate in September was in the clothing category (+1.77%). "Overall, the worst moment of inflation in (Banco Original) has passed, partly due to the government's tax cuts and partly to the international environment," said Marco Caruso, chief economist at Bank of Brazil.
