Brazil’s producer prices up 4.78% in March, second highest on record

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%)

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 . . .

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