Financial News: Brazil Producer Prices Rise 1.1%

Brazil Producer Prices Rise 1.1%

10/26/2023 - 10:30:00 (RTTNews)

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

The producer price index in the general industry rose 1.1 percent year-over-year in September, following a 0.75 percent gain in the previous month.

The price index for oil refining and biofuels grew the most by 8.28 percent from last month, and that for extractive industries showed an increase of 3.86 percent.

On a yearly basis, producer prices fell 7.92 percent in September, though slower than the 10.65 percent plunge in August. The biggest annual decline in producer prices was observed in other chemical products, which slumped 25.44 percent.

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