Brazil’s producer prices up 4.78% in March, second highest on record
RIO DE JANEIRO, BRAZIL – The Producer Price Index (IPP) recorded a rise of 4.78% in March compared to the preceding month, the second-largest increase since official records began in 2014.
The Brazilian Institute of Geography and Statistics (IBGE) also reported that February’s record high was revised from 5.22% to 5.16%.
The IPP now accumulates a 33.52% rise in the past 12 months, also a record rate.
IBGE explained that the March result mainly reflects the increase in prices of oil refining and alcohol products (16.77%), other chemical products (8.79%), timber (7.73%), and paper and cellulose (7.18%). The Brazilian Institute of Geography and Statistics (IBGE) also reported that February’s record high was revised from 5.22% to 5.16%.
Alexandre Brandão, analysis and methodology manager at the Industry Coordination, explained that the result was impacted by the depreciation of the real against the dollar, which affects both the prices of products exported by Brazil and the prices of imported products, especially raw materials.
“Many raw materials prices are higher, and these increases are spread over several chains,” Brandão said in the statement about the data, noting that another factor was the increase in international demand, particularly from China.
“Commodities have increased in price because the international market is pressured by demand, particularly from China for agribusiness products, such as soybean derivatives and meat, particularly beef. But there is also pressure on steel and cellulose products.”
The IPP measures the price variation of products at the ‘factory gate’, excluding taxes and freight, from 24 activities in the extractive and manufacturing industries.
Live Market IntelligenceBrazil — Live Market Board
Rio Times · Live Market Intelligence
Brazil — Live Market Board
+1.85%
171,031.73
+1.85%
65,729.18
+2.14%
11,338.38
+0.89%
2,913,184
+1.30%
2,459.23
+0.61%
58,698.13
+2.60%
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| IBOV | 171,031.73 | +1.85% | +21.85% | 167,927.15 | 168,310 | 167,142 | — |
| USD/BRL | 5.16 | +0.01% | -5.13% | 5.16 | 5.18 | 5.14 | — |
| SELIC | 14.00% | — | — | — | — | — | |
| PETR4 | 41.64 | -0.05% | +35.19% | 41.66 | 41.97 | 41.15 | 41,499,400 |
| VALE3 | 72.97 | +0.83% | +30.75% | 72.37 | 73.54 | 72.66 | 17,658,000 |
| ITUB4 | 38.60 | -1.03% | +4.57% | 39.00 | 39.34 | 38.39 | 29,487,800 |
| BBDC4 | 16.85 | +0.36% | +3.50% | 16.79 | 16.90 | 16.67 | 19,416,900 |
| BBAS3 | 19.37 | +0.47% | +0.73% | 19.28 | 19.44 | 19.16 | 11,069,200 |
| B3SA3 | 14.26 | -0.21% | +12.73% | 14.29 | 14.47 | 14.11 | 33,037,800 |
| ABEV3 | 14.89 | -0.80% | +21.91% | 15.01 | 15.07 | 14.81 | 16,453,100 |
| WEGE3 | 47.59 | +0.49% | +29.99% | 47.36 | 48.08 | 47.36 | 3,364,600 |
| PRIO3 | 59.14 | -0.19% | +50.67% | 59.25 | 59.81 | 58.74 | 3,325,600 |
| SUZB3 | 41.33 | +2.35% | -23.55% | 40.38 | 41.48 | 40.35 | 3,914,900 |
| RENT3 | 34.68 | -0.09% | +0.84% | 34.71 | 34.96 | 34.35 | 7,979,100 |
| AZZA3 | 15.89 | -2.63% | -53.76% | 16.32 | 16.42 | 15.82 | 1,330,300 |
| CSNA3 | 4.30 | +0.47% | -42.65% | 4.28 | 4.41 | 4.26 | 10,076,100 |
| GGBR4 | 24.69 | +2.19% | +51.38% | 24.16 | 24.85 | 24.18 | 7,047,600 |
| ENEV3 | 24.21 | -1.38% | +70.49% | 24.55 | 24.64 | 23.99 | 9,297,000 |
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