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 . . .