Inflation Is Up and Surplus Down in Brazil

Brazil's weekly Consumer Price Index (IPC-S) went up faster, in the second week of March, than in the previous week in four of the seven capitals analyzed by the Getúlio Vargas Foundation (FGV). Data from the FGV just released today, March 19, show that Belo Horizonte, capital of the southeastern state of Minas Gerais, had the highest rate of inflation with a 0.95% increase.

In São Paulo, the city with the  most weight on the national index of prices, inflation rose 0.34%. The consumer price index went up 0.85% in Porto Alegre, in the South and 0.54% in Recife, in the Northeast.

On the other hand, prices went up more moderately in Brasí­lia (0.14%). In Rio de Janeiro, the inflation rate was 0.52% and in Salvador, 0.46%. The IPC-S of the second week of March week went up 0.5%, 0.02% more than the previous reported rate.

Exports from Brazil amounted to US$ 2.762 billion last week, a 3.79% decrease compared with foreign sales for the week before. During the same period, imports reached US$ 2.056 billion, a 2.14% decrease, resulting in a balance of US$ 706 million between March 12th and 16th, with a daily average of US$ 141.2 million.

The monthly balance rose to US$ 1.695 billion, and the yearly balance went up to US$ 7.064 billion, a 9.11% decrease compared with the surplus (positive trade balance) recorded in the same period last year.

The figures were disclosed today, March 19, by the Brazilian Ministry of Development, Industry and Foreign Trade.

Brazilian exports totaled US$ 27.920 billion this year, a 13.73% increase over exports in 2006; imports reached US$ 20.856 billion, a 24,31% increase.