In brief

36% in August, according to IBGE.

83%.

What we know

04
  1. Verified fact · material

    The Producer Price Index rose 0.36% in August, according to IBGE.

    Measures cost pressure in industry.

    Sources[01][02]
  2. Verified fact · material

    In July, the index had fallen 0.83%.

    Shows the turn.

    Sources[01][02]
  3. Verified fact

    According to Correio Braziliense, the PPI is up 2.53% over 12 months.

    Shows the annual trend.

    Sources[02]
  4. Verified fact

    The PPI measures industrial prices excluding taxes and freight, at the factory gate.

    Explains the indicator.

    Sources[02]

Transmission to assets

Market read-through

The one-off rise does not change the moderate trend in industrial prices, but reduces the relief from raw materials.

Portfolio impact

01
Juros futuros curtosnegative

Higher industrial costs may reach consumers.

Small effect.

What would change the view: Pass-through to retail.

rates15% confidence

Direction is an explanatory hypothesis, not a forecast or recommendation.

Next signals

What to watch

  • September IPCAInflationMacroChange in the price level, tracked in Brazil primarily through the IPCA index.Open in the Market Map ↗
  • September PPI
  • Exchange rate and commodities

Limits of the reporting

What remains uncertain

  • The 12-month change was reported by a single source read.

Full sources

02