Thursday, 2 May 2019

Cost of living increases for the poorest in São Paulo

O custo de vida em São Paulo, a maior cidade do Brasil, aumentou 5,10% para a população mais pobre no primeiro trimestre de 2019. For the richer classes, the increase in the cost of living in the same period was 3.67%.

The Cost of Living Index (ICV) in the city of São Paulo, which is calculated by the Department of Statistics and Socioeconomic Studies (Dieese), indicated an increase in the cost of living after analyzing the prices of 10 groups, including food, transport, recreation, personal expenses. Among them, food and transportation had the highest increases, with 1.36% and 1.26% respectively.

Meanwhile, preview inflation in Brazil accelerated to 0.72% in April, the highest for that month since 2015. The number surpassed expectations. For example, a Reuters survey with Brazilian economists estimated a 0.69% rise for the same period.

On the other hand, the Consumer Price Index (CPI) index of the Institute for Economic Research (FIPE) increased by 0.29% in April and accumulated inflation of 1.93% in the first four months.

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