Rio de Janeiro, November 12, 2003 (Agência Brasil - ABr) - The General Market Price Index (IGP-M) indicated that inflation fell to 0.23% in the first preliminary estimate for November. In the first preliminary estimate for October, the index rose 0.37%, according to the Getúlio Vargas Foundation (FGV). So far this year, up to the first preliminary estimate for November, the IGP-M shows a cumulate increase of 7.77%. Over the past twelve months, the increase amounts to 11.81%.

The index showed that prices are decelerating at both wholesale and retail levels. The Wholesale Price Index (IPA), responsible for 60% of the IGP-M, rose 0.26% in the first preliminary estimate for November. During the same period in October, this index rose 0.41%. For its part, the Consumer Price Index (IPC), responsible for 30% of the IGP-M, increased 0.13% in the first preliminary estimate for November, as against a 0.37% increase in the first preliminary estimate for last month.

On the other hand, the National Cost of Construction Index (INCC), responsible for 10% of the IGP-M, rose 0.30% in November, compared with 0.06% in October.

The study was conducted by the FGV during the period October 21-31. (DAS)