Friday, September 04, 2020

Inflation for low-income households accelerates to 0.55% in August

Inflation felt by the low-income population accelerated slightly in August, according to data released on Friday (4) by the Getulio Vargas Foundation (FGV).
The Consumer Price Index - Class 1 (IPC-C1) – which assing the price variation of products and services for families with incomes between one and 2.5 minimum wages – stood at 0.55% in August, against 0.50% in July, accumulating a high of 2.22% in the year and 3.08% in the last 12 months.
The IPC-Br, which measured price variation for families with incomes from one to 33 monthly minimum wages, stood at 0.53% in August, accumulating a high of 2.77% in 12 months, remaining at a level below the inflation felt by the poorest.
Of the 8 groups of components of the index, 4 were discharged: food (from 0.13% in July to 0.76% in August), education, reading and recreation (-0.61% to 0.09%), miscellaneous expenses (0.25% to 0.58%) and health and personal care (0.54% to 0.61%).
Among the items that became more expensive in August, highlight for banking services (0.81%) and toiletries and personal care (1%), gasoline (2.68%), residential electricity tariff (1%) and monthly subscription tv (0.44%). On the other hand, a decline was recorded in items such as falls, vegetables and vegetables (-7.55%), formal courses (-0.17%), and clothing (-0.54%).
On Thursday (3), the Brazilian Association of Supermarkets (Abras), warned that the supermarket sector has suffered strong pressure from increased prices generally passed on by industries and suppliers in items such as rice, beans, milk, meat and soybean oil.
"This is due to the increase in exports of these products and their raw material and the decrease in imports of these items, motivated by the change in the exchange rate that caused the appreciation of the dollar against the real," Abras said.
In contrast, the Transport groups (1.12% to 0.68%), Housing (0.90% to 0.61%), Communication (0.40% to 0.12%) and Clothing (-0.25% to -0.42%) decreased in their rates of variation. In these expense classes, it is worth mentioning the items: gasoline (3.73% to 2.68%), residential electricity tariff (2.33% to 1.00%), monthly subscription TV (1.59% to 0.44%) and clothing (-0.40% to -0.54%).
G1 - 04/09/2020 News Item translated automatically
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