Survey Says Rent Inflation is 8.64 Percent in 12 Months

By Contributing Reporter

RIO DE JANEIRO, BRAZIL – The General Price-Market Index (IGP-M), used in the readjustment of rental contracts, registered inflation of 0.92 percent in April, a percentage lower than that observed in March (1.26 percent).

According to the Getulio Vargas Foundation (FGV) report issued yesterday (29th), the IGP-M accumulates inflation of 3.1 percent in the year and 8.64 percent in the last 12 months.

The rate drop from March to April was triggered by wholesale prices. The National Extended Consumer Price Index inflation, which measures wholesale, fell from 1.67 percent in March to 1.07 percent in April.

Simultaneously, retail and construction rates rose. The Consumer Price Index, which measures retail, rose from 0.58 percent in March to 0.69 percent in April. The National Construction Cost Index (INCC) went from 0.19 percent to 0.49 percent over the period.

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