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IGP-DI slows down by 0.38% in July, driven by a fall in commodities, says FGV

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IGP-DI slows down by 0.38% in July, driven by a fall in commodities, says FGV

The General Price Index-Internal Availability (IGP-DI) dropped 0.38% in July, according to data released this Friday (5th) by the Getulio Vargas Foundation (FGV).

The result comes after the indicator rose 0.62% in June, with a decline in the prices of major commodities.

Now, the index accumulates high of 7.44% in the year and 9.13% in 12 months. In July 2021, the IGP-DI had risen 1.45% and accumulated a 33.35% increase in 12 months.

“The declines seen in the prices of major commodities – iron ore (from -1.63% to -12.94%), soybean (from -0.81% to -2.27%) and corn (from -3, 30% to -4.98%) – explain the deceleration of producer inflation, which closed down by 0.32%”, said André Braz, coordinator of FGV’s price indices.

“In terms of the consumer, contributions from energy sources prevail, mainly gasoline (from 0.18% to -14.24%) and electricity (from -0.41% to -5.13%)”, he added.

Source: CNN Brasil

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