Rent values in four of the main Brazilian capitals rose 0.81% in March this year. The data is from the Residential Rent Variation Index (Ivar), calculated by the Getulio Vargas Foundation (FGV) in the cities of São Paulo, Rio de Janeiro, Belo Horizonte and Porto Alegre.
The rate was below the 2.92% registered in February. As a result, Ivar accumulates inflation of 6.24% in 12 months, the highest level since the beginning of the historical series, in January 2019.
The biggest drop in Ivar, from February to March, was observed in Porto Alegre, which went from inflation of 3.61% to deflation (drop in prices) of 1.25% in the period.
The other cities also had a drop in the rate, but continued to register inflation in March: São Paulo (falling from 2.38% in February to 1.30% in March), Rio de Janeiro (from 2.55% to 1.44% ) and Belo Horizonte (from 3.80% to 2.32%).
In the 12-month period, inflation dropped only in Porto Alegre, from 5.46% in February to 4.98% in March.
In the other three cities, accumulated inflation rose from February to March: São Paulo (from 2.83% to 4.09%), Rio de Janeiro (from 4.90% to 7.27%) and Belo Horizonte (from 9 .32% to 14.11%).
