The Residential Rent Variation Index (Ivar), calculated by the Getulio Vargas Foundation (FGV), recorded a rise of 0.59% in May this year. The rate is lower than the 0.82% observed in the previous month.
According to FGV, the index accumulates a variation of 8.83% in 12 months, the highest rate since the beginning of the historical series, in January 2019.
In May, the only city to show a drop in the average variation of residential rent was São Paulo (-0.26%). In the previous month, the capital of São Paulo had inflation of 1.27%.
The other three cities had inflation in May and rates higher than those observed in the previous month: Rio de Janeiro (1.31% in May compared to a rate of 0.31% in the previous month), Belo Horizonte (1.97% in May compared to -0.07% in April) and Porto Alegre (0.87% in May compared to 0.82% in April).
In the annual variation, three of the four cities had an increase in the inflation rate from April to May: Rio de Janeiro (from 8.70% to 10.33%), Belo Horizonte (from 14.87% to 15.96%) and Porto Alegre (from 7.17% to 8.06%). In São Paulo, the rate dropped from 6.54% to 6.49%.
