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Brazil's IGP-10 Rises 0.21% in September as Producer Prices Pick Up

Agricultural commodities drove the IPA higher, raising the prospect of cost pass-through to consumers, according to FGV Ibre.

Overview

  • The index is up 2.88% over 12 months versus 4.25% a year earlier and is down 1.06% in 2025 to date.
  • The producer index (IPA) advanced 0.27% after 0.06% in August, with agricultural products cited as the main positive drivers.
  • The consumer index (IPC) declined 0.13% following a 0.18% rise in August, influenced by cheaper food, leisure services such as cinema tickets and airfares, and gasoline.
  • Construction costs (INCC) rose 0.42% compared with 0.82% in August, as materials and equipment, services, and labor all slowed.
  • Within the IPA, Final Goods improved to -0.10%, Intermediate Goods moderated to -0.35%, and Raw Materials decelerated to 0.95%.