A 0.51% increase compared to the previous month, which was below market expectations (0.54%). The rise in IPA-Agro stands out, going from -2.2% to +0.3% in the monthly comparison.
On the other side, IPA-Ind decreased from 1.5% to 0.7%, primarily reflecting the slowdown in iron ore but also in core components. This measure, which excludes extractive industry, fuels, and food products, returned to deflation (-0.01%) – a very positive sign.
Among the highlights of the increases, we have cattle, beef, and sugar – a trend that we have been monitoring in the IPCA. Among the highlights of the decrease, we had milk, soybeans, and bananas.
