By Jeffrey Lewis
SÃO PAULO–Brazil’s inflation accelerated in September after the price of gasoline increased and food prices declined more slowly than in August.
Consumer prices rose 0.26% from August, the Brazilian Institute of Geography and Statistics, or IBGE, said Wednesday. Prices rose 5.19% in September from a year earlier. In August, prices rose 0.23% and increased 4.61% from a year earlier.
State-controlled oil company Petróleo Brasileiro, or Petrobras, raised its fuel prices in mid-August. The price of gasoline increased 2.8% in September from August, and the price of diesel fuel jumped 10.1% in the same period.
“Gasoline is the sub-item that has the greatest weight in the inflation index. With this increase, it ends up contributing significantly to the result for September,” said André Almeida, the IBGE’s manager of the inflation report.
The price of food declined for the fourth consecutive month, but at a slower pace than in August. Food prices fell 0.71% in September, after retreating 0.85% the previous month, the IBGE said.
Write to Jeffrey T. Lewis at [email protected]
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