IGP-M records price drop of 1.84% in May

The General Price Index – Market (IGP-M), measured by the Getulio Vargas Foundation (FGV), recorded deflation (falling prices) of 1.84% in May this year. The fall is more accentuated than that observed in April, when there was a deflation of 0.95%. Compared to May 2022, there was inflation (price hike) of 0.52%.

As a result, the IGP-M has accumulated a price drop of 2.58% since the beginning of the year. In 12 months, the accumulated deflation reaches 4.47%. In May of last year, the index accumulated inflation of 10.72% in 12 months.

The drop in the rate from April to May was driven by wholesale prices, measured by the Broad Producer Price Index (IPA), which recorded a 2.72% deflation, the biggest price drop in the historical series. In April, deflation had been 1.45%.

The Consumer Price Index (IPC), which measures retail, and the National Construction Cost Index (INCC), on the other hand, registered, in May, price increases that were more expressive than the April inflation rates.