Reuters: US Dollar Report: Brazil IGP-M price index shows slower June inflation

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Brazil IGP-M price index shows slower June inflation Jun 28th 2012, 11:48 Thu Jun 28, 2012 7:48am EDT * Wholesale-heavy price index rises more than expected * IGP-M index rose 1.02 percent in May SAO PAULO, June 28 (Reuters) - Brazil's broadest inflation index, the IGP-M, rose 0.66 percent in June, down from a 1.02 percent increase in May, the Getulio Vargas Foundation research group said on Thursday. The index was expected to increase 0.58 percent, according to the median forecast of 12 economists polled by Reuters. Estimates ranged from an increase of 0.55 percent to 0.59 percent. The IGP-M is closely monitored by analysts and investors because it provides a broad look at wholesale and consumer prices in Latin America's largest economy. It also allows investors to watch price trends in the construction industry. The IGP-M is typically published ahead of Brazil's benchmark IPCA consumer price inflation data for the same month. The IPCA for June is due to be released by the government's statistics agency on July 6. The wholesale component of the IGP-M index, which accounts for about 60 percent of the overall IGP-M, rose 0.74 percent in June, compared with an increase of 1.17 percent the previous month. The consumer price component, which has a 30 percent weighting in the index, rose 0.17 percent compared with a 0.49 percent increase in May. The construction costs index, which accounts for the rest of the IGP-M index, climbed 1.31 percent in June after a rise of 1.30 percent in the previous month. Link this Share this Digg this Email Reprints

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