IGP-10 accelerates high to 0.74% in June with boost from agricultural and diesel items, says FGV

Rising prices for agricultural products and diesel picked up pace and the rise in the General Price Index-10 (IGP-10) accelerated to 0.74% in June, from a rise of 0.10% in the previous month, according to data. informed this Wednesday by the Getulio Vargas Foundation (FGV).

The expectation in a Reuters poll was for a slightly more moderate increase of 0.62%. The June result led the IGP-10 to accumulate a 12-month high of 10.40%.

The Broad Producer Price Index (IPA), which measures the change in wholesale prices and accounts for 60% of the overall index, advanced 0.47% in June, from a 0.08% drop in the previous month.

“The truce presented by agricultural products in May was not repeated in June and the group variation went from -1.59% to -0.04%”, explained in a note André Braz, coordinator of price indices, about the acceleration of the overall index this month.

He also highlighted the behavior of diesel oil, which, with an increase of 8.66% in the period, compared to 0.30% in the previous month, accounted for 68% of the IPA rate in June.

The Consumer Price Index (IPC-10), which accounts for 30% of the general index, accelerated the rise to 0.72% in the month, from 0.54% in May. The main responsible for this result was the Housing group, which rose 0.13%, against a drop of 2.37% recorded last month.

The National Construction Cost Index (INCC), the lowest weight in the general index, in turn, jumped 3.29% in June, after increasing 0.74% in May.

The IGP-10 calculates producer, consumer and civil construction prices between the 11th of the previous month and the 10th of the reference month.