The print of the General Price Index – Market (IGP-M) was relatively stable at 0.01% in March, according to the Getulio Vargas Foundation (FGV), compared to 0.08% in February. For 2017, its level is 0.74%, while in the 12-month measure, the IGP-M hit 4.86%.
A breakdown of the index shows deflation of 0.17% for the Extended Producer Price Index, lower than the 0.09% recorded in the previous month. After a fall of 0.61% in February, deflation in the Finished Goods Index eased to -0.08%. This was helped by the subindex of fresh foods, which reduced a fall of -2.71 to a high of 3.69%. Excluding volatile subgroups, such as fresh foods and fuel, the index of Finished Goods was at -0.10%. In February, the rate was -0.38%.
The index of Intermediate Goods was at -0.39%, compared to February when it was 0.99%. The main driver of this change was the fuels and lubricants for production subgroup, falling from 1.65% to -3.41%. The Index of Intermediate Goods, excluding the fuels and lubricants for production subgroup, fell to 0.09%, down from 0.88% in February.
Raw Materials fell 0.05% in March. The items that contributed most to this movement were: iron ore (from -0.59% to 5.95%), poultry (from -7.05% to 0.88%) and cattle (from -2.79% to -0.84%).
The Consumer Price Index (CPI) increased 0.38% in March, down from 0.39% in February. Three of the eight categories of the index decreased. The main contribution came from Education, Reading and Recreation (from 2.15% to -0.29%). The follwing groups also decreased: Transport (from 0.51% to 0.15%) and Communication (from 0.28% to -0.69%). On the other hand, the following groups increased: Food (from -0.22% to 0.40%), Housing (from 0.44% to 0.84%), Miscellaneous Expenses (from 0.35% to 0.76%), Health and Personal Care (from 0.47% to 0.56%) and Clothing (from -0.05% to 0.22%).