Reuters: US Dollar Report: Brazil Sept IGP-M price index up 0.97 pct, slows from Aug jump

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Brazil Sept IGP-M price index up 0.97 pct, slows from Aug jump Sep 27th 2012, 11:30 SAO PAULO, Sept 27 | Thu Sep 27, 2012 7:30am EDT SAO PAULO, Sept 27 (Reuters) - Brazil's broadest inflation index, the IGP-M, rose 0.97 percent in September, easing from a 1.43 percent increase in August, the Getulio Vargas Foundation research group said on Thursday. The index was expected to increase 0.91 percent, according to the median forecast of 18 economists polled by Reuters. Estimates ranged from increases of 0.75 percent to 1.20 percent. Analysts and investors closely monitor the IGP-M 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 typically appears ahead of Brazil's benchmark IPCA consumer price inflation data for the same month. The government's statistics agency is due to release the IPCA for September on Oct. 5. The wholesale component of the IGP-M, which accounts for about 60 percent of the overall index, rose 1.25 percent in September, compared with an increase of 1.99 percent in the previous month. The consumer price component, which has a 30 percent weighting in the index, rose 0.49 percent, compared with a 0.33 percent increase in August. The construction costs index, which accounts for the rest of the IGP-M, climbed 0.21 percent in September after a rise of 0.32 percent in the previous month. Link this Share this Digg this Email Reprints

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