The greatest inflationary pressures in April were produced by higher prices in 8 of the 9 sectors analyzed by the Statistics Institute. The greatest upward variation was observed in Food and Beverages (2.06%) and transportation (1.91%). The two groups accounted for around 80% of the April CPI.
Upward variations were recorded in health and personal care products and services (1.7%) and household items (1.5%). The only group that registered a negative variation was housing (1.14%). The other groups were between 0.06% education and 1.26% clothing.
According to data released this Wednesday by the Brazilian Institute of Geography and Statistics (IBGE), inflation in April was 1.06%, more than three times higher than that of the same period in 2021 (0.31%) and the highest for this month in the last 25 years, since April 1996 (1.26%).
The rate, however, was lower than that registered in March (1.62%), which was the highest in the last year. Inflation increased in April pressured by the 2.48% increase in the price of gasoline, which was responsible for 0.17 percentage points of the index.
“Gasoline is the product with the greatest weight in the Extended Consumer Price Index (6.71% of the total), but other fuels also rose. Ethanol rose 8.44%, diesel 4.74% and gas for vehicles 0.24%”explained the coordinator of the IBGE studies on inflation, André Almeida.
Despite pressure from Brazilian President Jair Bolsonaro not to raise fuel prices, Petrobras has been announcing continuous adjustments since last year to try to match internal values with international ones.
The oil company, which is state controlled but has shares traded on the Sao Paulo, New York and Madrid stock exchanges, announced this week an 8.87% increase in the price of diesel, which, according to economists, will have a strong impact on the inflation since it is the main fuel used by trucks.
Source: Ambito
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