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Tuesday, August 09, Will Be Marked By Turbulence After IBGE Reveals Data Regarding Brazilian Inflation, Both For The Construction Industry And Other Areas Of The Economy.
On Tuesday, August 09, IBGE, the Brazilian Institute of Geography and Statistics, released data regarding the National Construction Cost Index (Sinapi), which shows the inflation of the construction industry, presenting an accumulated high of at least 9.11% between January and July of this year, with 1.48% only in the previous month, which is still below the June data, which reached 1.68%.
Today, there was also the release of national inflation data, in which IPCA fell by 0.68%, which was one of the highest deflation rates since 1998. The drop in inflation under the Bolsonaro government, due to the control of fuel and electricity prices, was greater than those caused by the government of Luiz Inácio Lula da Silva. Despite the control of taxes on diesel, gasoline, and ethanol, the fuel widely used by truck drivers, diesel is still flirting with R$ 8 in Santa Catarina (SC).
The data, which were considered more positive than expected by economists, caused the dollar exchange rate to plummet and return to R$ 5.11.
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Lula says that the Brazilian naval industry will “thrash” China and Korea, while the government announces billions for barges, pushers, and a new hydro terminal in the Amazon.
The Accumulated Inflation of The Construction Industry In The Last Twelve Months Reaches 14%
When analyzing the graph with the accumulated inflation of the construction industry over the last twelve months, the value is 14.07%, which is still below the accumulated 14.53% recorded in the previous twelve months, representing a 28.6% increase over two years.
The second half ended with one of the highest rates of the year for construction inflation, which may represent the end of the dream of home ownership for middle and lower-class Brazilians. The square meter in July reached R$ 1,652.27, with almost R$ 988 relating to materials and the remainder allocated for labor for construction.
Although this is one of the highest increases of 2022, when analyzing the July 2022 data with 2021, there is an exponential decrease, as last year’s monthly result represented a rise of 2.88%.
Paraná (PR) Is One Of The States With The Highest Inflation Rise In July
The state of Paraná (PR) reported a monthly variation in materials of about 5.1%, making it one of the highest results in the country. The smallest increases occurred specifically in the Northeast, following this order: 0.85% (North), 1.50% (Northeast), 1.05% (Southeast), and 1.24% (Midwest). Regarding costs per square meter, the North region had the lowest values, standing at R$ 1,622.08 (North); R$ 1,546.52 (Northeast); R$ 1,723.94 (Southeast); R$ 1,717.01 (South) and R$ 1,658.26 (Midwest).
What Is Sinapi?
The Sinapi works together with Caixa and IBGE to produce research on the monthly costs of construction, measuring expenses with materials, labor, and specialized machinery. In other words, they are specialists when it comes to housing and basic sanitation.
The statistics prepared by Sinapi are crucial for the development of new social programs and national-scale research. Monthly, at the beginning of each month, new relevant information about square meter prices, labor, etc. is revealed.
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