Last Friday (5), the Brazilian Institute of Economics (IBRE) of Fundação Getúlio Vargas (FGV), published the figures referring to the IGP-DI. Wholesale prices put strong pressure on the index, causing 2022 to start sharply higher in January. The indicator was expected to increase by 2.74%, but the increase was 2.91%. In the immediately previous month, the indicator registered an increase of 0.76%.
The main factors that made the index rise, was the IPA (producer price index), due to the increase in the prices of raw materials and intermediate goods, being impacted by the prices of iron ore during the month of January as can be seen. shown in the graph below, which only decelerated at the end of the month.
The INCC (National Construction Costs Index) also made progress, but in a more subdued manner, receiving the impacts of labor costs. The reduction in the consumer price index (IPC) prevented the IGP-DI increase from being higher, increasing by 0.27% in January, against an increase of 1.07% in December 2022.
The main concern around what is indicated is how it affects the correction of contracts, which can directly affect the consumer. Due to the current progress of the indicator, some services tend to increase considerably.
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The IGP-DI post is up 26.55% in 12 months, as FGV first appeared in 1 Billion Financial Education.
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