The IGP-10 increases by 0.04% in December and accumulates a decrease of 0.76% in 12 months | Brazil

With this result, the index accumulates a drop of 0.76% over the year and also over 12 months. As of December 2024, IGP-10 increased by 1.14% for the month and had a cumulative increase of 6.61% in 12 months.

In December, the broad producer price index (IPA) fell by 0.03%, reversing the behavior observed in November, when it recorded an increase of 0.15%. By analyzing the different stages of transformation, the Final Products group went from 0.10% in November to 0.12% in December. The index corresponding to final goods (ex), which excludes the subgroups of fresh food and fuels intended for consumption, repeated the rate recorded in November, where it was 0.31%. The rate for the intermediate goods group increased by 0.06% in December, compared to 0.32% in November. The index of intermediate goods (excluding) (excluding the subgroup of fuels and lubricants for production) increased by 0.08% in December, after increasing by 0.39% in the previous month. The Raw Materials stage went from an increase of 0.08% in November to a decrease of 0.18% in December.

“Producer prices closed the year 2025 with a drop of almost 3%, influenced by agricultural and industrial products. The result reflects the good harvests and sensitivity to international raw materials, which reduced food prices and had an impact on processed products, leading the processing industry to vary by 0.7%, well below the 5.28% of 2024,” underlined Matheus Dias, economist at FGV IBRE.

The Consumer Price Index (CPI) recorded a variation of 0.21%, as in November. Among the eight spending classes that make up the index, three showed an increase in their rates of variation: Education, reading and leisure (0.41% to 1.86%), Housing (-0.16% to 0.28%) and Transport (0.13% to 0.23%). On the other hand, the Health and Personal Care (0.67% to 0.16%), Food (0.13% to -0.19%), Clothing (0.37% to -1.30%), Miscellaneous Expenses (0.76% to 0.00%) and Communication (0.11% to 0.10%) groups showed a decline in their rates of change.

“Housing had a greater weight, driven by volatility in residential electricity rates; without the slowdown in food and transport in the second half, the CPI could have exceeded 2024,” the economist said.

The National Construction Cost Index (NCC) recorded an increase of 0.22%, below the rate of 0.30% observed in November. Analyzing the three constituent groups of the INCC, the Materials and Equipment group slowed from 0.39% to 0.18%; the Services group reversed the rate from -0.10% to 0.15%; and the Labor group went from 0.23% to 0.28%.