The general price index (IGP-DI) recorded by the Getulio Vargas Foundation (FGV), dropped by 0.38% in March, after a rise of 0.06% in February – the first decrease since June 2016.
Within the top-line economic segments that make up the index, there was a fall of the wholesale price index, the IPA-DI (falling by 0.78%). This index accounts for 60% of the overall index.
On a breakdown of the wholesale index, the highlight was a decline of 1.51% for raw commodities in March, picking up pace after a decrease of 0.51% in February.
Intermediate goods dropped 0.89% in March, up from the fall of 0.21% in the previous month, with materials and component manufacturing driving the index lower.
The consumer price index (IPC-DI) increased to 0.47%, from 0.31% the previous month, which was influenced by an advance of food item by 0.71%.
Finally, the national construction index slowed its advance of 0.65 in February to close the month with an increase of 0.16%.
The IGP-DI is used as a reference for price corrections and contractual values. It is also directly used in the calculation of Gross Domestic Product (GDP) and national accounts in general.