Brazil’s IGP-10 Rises 0.18% in November as Producer and Construction Costs Firm

Overview

• FGV reports the wholesale IPA climbed 0.15% after a 0.04% decline in October, with cattle, iron ore and soybeans leading increases and raw milk, gasoline and wheat easing pressures.
• FGV economist Matheus Dias attributes the result to faster manufacturing prices, especially food-related items, alongside milder consumer-price advances.
• The consumer IPC cooled to 0.21% from 0.48%, as Housing turned negative and Education and Transport eased, while Health care and Food registered increases.
• Construction costs (INCC) rose to 0.30%, with Materials and Equipment at 0.39%, Labor at 0.23% and Services at -0.10%.
• IGP-10 is down 0.80% year to date and up 0.34% over 12 months, a sharp contrast to November 2024 when the monthly gain was 1.45% and the 12-month rate reached 6.07%.