The Residential Rent Variation Index (Ivar) registered deflation (price drop) of 0.31% in June this year, according to the Getulio Vargas Foundation (FGV). The indicator measures rental prices in four Brazilian cities: São Paulo, Rio de Janeiro, Belo Horizonte and Porto Alegre.
In May of this year, Ivar had registered inflation of 0.59%. With this, the index accumulates, in June, an inflation rate of 8.05% in 12 months, below the 8.83% accumulated in the previous month.
“Ivar should begin to resemble more and more the accumulated result of the IPCA, since the IPCA has been adopted as the index of residential rental contracts. As of this second semester, this accumulated rate of change in rents should stabilize at around 8% to 9%”, explains FGV researcher Paulo Picchetti.
São Paulo was the only city to register inflation in the June Ivar (0.86%). In the previous month, the indicator had presented deflation of 0.26%.
The other cities showed deflation in June: Rio de Janeiro (-0.26% compared to an inflation of 1.31% in the previous month), Porto Alegre (-0.27% compared to an inflation of 0.87% in May) and Belo Horizonte (-4.12% against an inflation of 1.97% in May).
