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Instituto Brasileiro de
Geografia e Estatística (IBGE) reports:
That the
Broad National Consumer Price Index (Índice Nacional de Preços ao
Consumidor Amplo (IPCA) rose 2.25% in January, which was 0.25 percentage
points above the 2.10% increase in December. The January price
increase was driven principally by readjustments to fuel prices and urban
bus tariffs hikes at the end of last year. The gasoline price
increase accelerated from 1.28% in December to 8.82% in January and was
thus the main individual contributing factor to the January spike.
Gasoline was followed by urban bus tariffs, which rose at a monthly rate
of 4.99%, up from 2.67% in December. As a result, the consumer
prices rose 14.47% in January over the same month last year, which was
above the 12.53% observed in December.
Consumer Prices,
January 2002 - January 2003
Note: Monthly
variation in %.
Source: Instituto Brasileiro de
Geografia e Estatística (IBGE) and LatinFocus calculations.
Forecasts: This indicator is covered in the
LatinFocus Consensus Forecast. For 5-year projections, including quarterly forecasts for
the next two years, please click here
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