Brazil’s inflation in October is lowest for month since 1998

Brazil’s National Broad Consumer Price Index (IPCA) in October was reported at 0.10 percent—the lowest result for October since 1998, when the IPCA stood at 0.02 percent. Used to gauge the official inflation, the IPCA was released today (Nov. 7) by the government’s Rio-based statistics agency IBGE.

Year-to-date, the IPCA reached 2.60 percent. In the last 12 months, the variation was 2.54 percent, lower than the 2.89 percent in the 12 months prior.

Three groups surveyed showed deflation: housing (-0.61%), household articles (-0.09%), and communication (-0.01%). The reduction in housing was driven by electric energy, with -3.22 percent.

Hikes were seen in clothing (0.63%), transport (0.45%) and health and personal care (0.40%). The most significant increase in clothing was assigned to women’s wear: 0.98 percent.

The rate has been gauged since 1980 among families with income of up to 40 minimum wages across ten metropolitan regions and six municipalities. As it stands today, the minimum wage is a monthly $247.3.