The General Price Index-10 (IGP-10), measured by the Getulio Vargas Foundation (FGV), had deflation (price drop) of 1.04% in October this year. The indicator had already presented deflations in last September (-0.90%) and in October 2021 (-0.31%).
Despite the fall in prices in October and September, the IGP-10 still accumulates inflation of 6.33% in the year and 7.44% in 12 months. In October 2021, the inflation accumulated by the indicator was 22.53%.
Causes
The fall from September to October was mainly driven by milk and fuel. The Broad Producer Price Index (IPA), which measures wholesale, went from a deflation of 1.18% in September to a price drop of 1.44% in October.
On the other hand, the Consumer Price Index (CPI), which measures retail, had inflation of 0.17% in the month, compared to deflation of 0.14% in September. The National Construction Cost Index (INCC) went from deflation of 0.02% in September to inflation of 0.01% in October.
The IGP-10 is a national indicator and was calculated based on prices collected between September 11 and October 10.
