IPCA comes above market expectations, says BTG Pactual

Charlie Taylor

The consumer inflation indicator (IPCA) for February was 0.86% in the month, well above market expectations of 0.72%, and BTG Pactual, 0.73%. In 12 months, it was 5.20%, also above the expectations of 5.04% of the market and 5.06% of BTG Pactual. In February, the highlight was transportation (2.28%), driven by the strong increase in fuel prices (7.09%), influenced by the rise in the price of commodities (especially oil), especially gasoline (7.11%) and diesel (5.40%). As a result, fuels accumulated an increase of 28.44% in the last 9 months. “We also observed an acceleration in the education segment (2.48%), with emphasis on regular courses (3.08%). This increase represents, in addition to the usual readjustments practiced at the beginning of the school year, the withdrawal of discounts practiced by some institutions as a result of the covid-19. The biggest variations came from pre-school (6.37%), elementary school (4.92%) and high school (4.45%) ”, informed BTG Pactual.IPCA is above market expectations, says BTG Pactual


In contrast, he said, the food and beverages segment continues to decelerate, advancing 0.27% in the month compared to a 1.02% increase in the previous month. Food items at home registered an increase of 0.28%, below the figure registered in the previous month (1.06%).

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The food out of home segment also decelerated 0.27%, less than in January (0.91%), which represents a deceleration for service inflation. “As expected by the market, the index accelerated in relation to January ( 0.25% w / w). The acceleration was justified mainly by the increase in fuel prices, due to the growth in international oil prices, the devaluation of the real and the adjustment in school fees ", he highlighted. 19, which has led several states to impose new measures of social isolation, the approval of the American Tax Package and the acceleration of the 10-year American interest income, the real remains under pressure in the short term. In addition, social restriction measures can also affect the industrial segment, impairing its production and reducing the supply of products, pressuring the inflation of industrial goods. ”Only click here if you are already an investor. BTG Pactual appeared first in 1 Billion Financial Education. Read also: Hyperinflation in sight? Bitcoin leverage is compared to the gold rush

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