With food prices high, IGP-M goes up 1.75%

Pressed by high food prices, the IGP-M (General Market Price Index) rose 1.75% on 2nd June, established prior by FGV (Fundação Getúlio Vargas) by means of the calculus of variations in price between May 21 and June 10. The advance was well above the high of 1.20% recorded in the same period of the previous month. Responsible for 60% of the overall index, the IPA (the Broad Producer price index), which assesses changes in the wholesale price, rose 2.24% at second reading in June, after growing up 1.71% in the previous month. Within the IPA, the highlights were the agricultural products, whose elevation was 3.26 percent, well above the 0.57 percent registered in May. Already consumer prices (CPI), responsible for 30% of the overall index, accelerated 0.99% at second reading June index almost five times above the 0.20% high in the same period in May. The prices of the Food Group, which grew by 1.47%, were the largest responsible for movement. It is still a reflection of the shortages caused by the strike of truck drivers