Imported products increased, in November this year, to 2.86% compared to the previous month, according to data released by the National Statistics Institute (INE)
The manufacturing industries section played a crucial role in this scenario, contributing a variation of 2.88% in essential products such as rice, sugar and soybean oil, directly impacting consumers’ budgets.
During the period under analysis, these products had an increase in prices in the general index by 2.86%, still under the influence of the manufacturing industry, with white needle rice (10.27%), cane sugar (8.11%) , and wheat flour (5.25%) leading the price increase.
Other products, from soybean oil to whiskey, followed this upward trend, directly impacting consumers’ purchasing choices.
In addition to imported products, the prices of national products also rose, showing an increase of 2.72% compared to the month of October.
INE also highlights that the Wholesale Price Index (IPG) showed a monthly variation of 2.82% from October to November this year, indicating an increase of 0.10 percentage points compared to the previous period.
The year-on-year variation in November reached 23.44%, representing a significant increase of 3.39 percentage points compared to the same period of the previous year.
The growth trend, briefly interrupted from April 2022 to April 2023, began to manifest itself again from May 2023, according to the INE report.
Global inflation
Global inflation in November 2023 reached 2.82%, with imported products contributing significantly, representing 74% of the total increase, equivalent to 2.10 percentage points.
In contrast, national products contributed 0.72 percentage points, corresponding to 26% of the value of global inflation. This imbalance in contribution highlights the importance of controlling the evolution of prices of imported products to face ongoing economic challenges.