Financial News: Brazil Producer Prices Rise 1.58%

Brazil Producer Prices Rise 1.58%

08/29/2024 - 10:26:00 (RTTNews)

(RTTNews) - Brazil's producer prices increased for the sixth straight month in July, figures from the Brazilian Institute of Geography and Statistics, or IBGE, showed on Thursday.

The producer price index rose 1.58 percent month-over-month in July, following a 1.26 percent increase in the previous month.

Industrial prices in July represented the biggest increase since May 2022, when they had varied 1.81 percent, the agency said.

Among major economic categories, prices in the intermediate goods segment increased by 1.93 percent, and those in the capital goods sector grew by 1.28 percent. There was a 1.12 percent spike seen in the price index for consumer goods.

On a yearly basis, producer prices climbed at an accelerated pace of 6.63 percent versus 4.17 percent rise in June.

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