Wednesday, February 05, 2020

Low-income inflation begins 2020 with slowdown

The lower rise in food prices eased the inflation rate for low-income households earlier this year. According to data released on Wednesday (5) by the Getulio Vargas Foundation (FGV), the IPC-C1, which calculates inflation for households with incomebetween one and 2.5 minimum wages, stood at 0.55% in January – below 0.93% in December. The rate is also lower than the 0.59% change recorded in the same period by the IPC-Br, which measures the price hike for families with income sums of one to 33 monthly minimum wages. In the 12 months, however, inflation for low-income households remains higher than that of the population as a whole: 4.55%, compared to 4.13% of the Cpi-Br. Beef, which had been putting pressure on the cost of living in recent months, fell 2.27%, after rising 11.78% in December, and contributed to the lowest food group price hike – whose rate fell from 3.08% in December to 0.83% last month. Despite the lower high in food, tomatoes exerted the highest bullish influence on CPI-C1 in January, rising 19.68%. Also lower were the rates of the groups several expenses (from 1.40% in December to 0.16% in January), clothing (from 0.46% to -0.24%), transport (from 0.82% to 0.50%) health and personal care (from 0.31% to 0.29%). On the contrary, housing rates gained strength (from -0.96% to 0.37%), education, reading and recreation (from 0.10% to 2.48%) communication (from 0.02% to 0.15%). Highlight for accelerations recorded in residential electricity tariff (from -5.40% to 0.86%), formal courses (from zero to 5.07%) and monthly payment for pay TV (from -0.57% to 1%).
G1 - 05/02/2020 News Item translated automatically
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