In 12 months, the index has accumulated a gain of 4.76%, above the target limit. In October 2023, the price index will experience a less significant increase, namely 0.24%.
With rising electricity bills and meat prices, the groups with the biggest increases in the IPCA this month were Housing, which rose 1.49%, and Food and Beverage, which rose 1.06%. Apart from recording the largest increase, these two groups also had the largest influence on inflation in October, with an impact of 0.23 percentage points each.
In the previous month, namely September, inflation had increased by 0.44%, this was also driven by the high increase in the value of domestic electricity and food bills.
Inflation was slightly above the average expectation of financial market experts who predicted a price increase of 0.53%.
View the IPCA group results:
Food and beverage: 1.06%;
Housing: 1.49%;
Household supplies: 0.43%;
Clothing: 0.37%;
Transportation: -0.38%;
Health and personal care: 0.38%;
Personal expenses: 0.70%;
Education: 0.04%;
Communications: 0.52%.
Electricity and food continue to weigh on inflation
Once again, residential electricity was the main driver of inflation, with an increase of 4.74% and an impact of 0.20 percentage points on the IPCA – the largest impact of any sub-item in October.