Fuel Prices Contribute to Inflation Growth in 2022, Commodity Prices in the Fuel Subgroup Saw the Largest Decline in the Last 12 Months

Written by Bruno Teles

Published on 11/01/2023 at 11:49

Preços dos combustíveis (Foto/divulgação)

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According to the latest data released by IBGE on Tuesday (10), the inflation of fuel prices will be 23.87% in 2022. Commodity prices in the fuel subgroup were the most significant drop over the last 12 months, with legislative measures interfering in the country’s tax policy.

However, the annual inflation of fuel prices measured by the IPCA (Broad Consumer Price Index) increased by 5.79% in 2022. Fuel items were the main reason for price increases over the last 12 months. The largest drop was in gasoline, which fell by 25.78% last year.

In second place was the deflationary ethanol, which dropped by 25.42% over the year. On the other hand, prices of other items in the fuel subgroup increased, such as diesel and gasoline for engines. The highest inflation this year came from clothing, food, and personal care, driven by food.

Inflation in 2022 and Relation to Fuel Prices

The expansion of the National Consumer Price Index 15 (IPCA-15) accelerated in November, driven by new highs in food prices and fuel prices. The indicator, which is a preview of official inflation, advanced by 0.53%, 0.16 percentage points above the result observed in October.

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According to data released by the Brazilian Institute of Geography and Statistics (IBGE), the accumulated increase of the index this year was 5.35%, and the accumulated increase over the last 12 months was 6.17%, lower than the 6.85% from the previous 12 months. In November 2021, the rate will be 1.17%.

Fuel Prices Contribute to Inflation Growth in 2022, Commodity Prices in the Fuel Subgroup Saw the Largest Decline in the Last 12 Months

According to the latest data released by IBGE on Tuesday (10), the inflation of fuel prices will be 23.87% in 2022. Commodity prices in the fuel subgroup were the most significant drop over the last 12 months, with legislative measures interfering in the country’s tax policy.

Inflation in 2022 and Relation to Fuel Prices

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Fuel Prices Contribute to Inflation Growth in 2022, Commodity Prices in the Fuel Subgroup Saw the Largest Decline in the Last 12 Months

According to the latest data released by IBGE on Tuesday (10), the inflation of fuel prices will be 23.87% in 2022. Commodity prices in the fuel subgroup were the most significant drop over the last 12 months, with legislative measures interfering in the country’s tax policy.

Inflation in 2022 and Relation to Fuel Prices

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Billions of barrels on the equatorial margin could lead Amapá to double its oil production in Brazil — the state aims to enter the route of companies in the Campos Basin, attract investments, and boost jobs and businesses in the oil and gas sector.

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