General Price Inflation falls to its lowest level since June 1989, say FGV

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The General Market Price Index (IGP-M) fell 1.10% in April after stability in March (0.10%) according to the Getulio Vargas Foundation.

For the first four months of the year, the print was -0.36% and in the 12-month measure inflation hit 3.37%.

In Brazil, the IGP-M is closely watched as it is used to make price readjustments to contacts, especially home rental contracts.

The data also showed the Extended Producer Price Index (IPA), which measures wholesale prices and has a weight of 60% of the general index, dropped to -1.77% from -0.17% in the last measure.

In relation to consumer prices, there was a fall of 0.38% to 0.33%, with a fall in the housing group from 0.84% to 0.02%. The decline in the IGP-M also reflected a reduction of 0.08% in the National Construction Cost Index (INCC) compared a print of 0.36% in March.

The General Market Price Index (IGP-M) is based on prices between March 21 and April 20.

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