The General Price Index – Market (“Índice Geral de Preços – Mercado –
IGP-M”) rose 1.02% in May, compared to April. That is 0.17 percentage
points more than it rose in April (0.85%), compared to March. The IGP-M
is a reference base for contract adjustments; most importantly, rent.
Over the last twelve months the IGP-M has risen 4.26%. So far this year
it is up 2.51%.
There was strong pressure on the IGP-M in the wholesale segment where
the broad producer price index (“Índice de Preços ao Produtor Amplo –
IPA”), which measures prices there, rose 1.17% in May, compared to
April. In April, compared to March, it was up 0.97%.
There was also pressure in the construction segment (“ÍNCC”) where labor costs rose 2.22% in May (after rising 1.08% in April).
The bright spot in this latest Getulio Vargas Foundation (“FGV”) price
survey was the Consumer Price Indes (“Índice de Preços ao Consumidor –
IPC”) that was down 0.49%, compared to April.