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Producer Price Index (IPP) changes 0.03% in March


The Producer Price Index (IPP) changed 0.03% in March in relation to February.  This figure was higher than that registered between February and January (-0.35%). Therefore, the cumulative index in the year stayed at -0.42%, against -0.45% in February. On the other hand, the cumulative index in 12 months declined to 6.64% against 7.71% in February.

IPP measures the evolution of “factory gate” prices, discounted taxes and freight, of 23 sectors of the manufacturing industry. The complete publication can be accessed on page


In March 2013, compared with February, 13 out of the 23 industrial activities surveyed recorded positive price changes. The four highest changes came from products of the following industrial activities: wood (1.61%), manufacture of wearing apparel and accessories (1.35%), food products (-1.25%) and basic metals (1.09%). The highest influences came from food products (-0.24 p.p.), petroleum refining and alcohol production (0.11 p.p.), basic metals (0.08 p.p.) and other chemical products (0.05 p.p.).

The cumulative index in the year hit -0.42% against -0.45% in February 2013. The activities that recorded the highest cumulative percentage changes in March 2013 were food products (-5.26%), computer, electronic and optical products (-3.32%), textiles (3.14%) and other transportation equipment (-2.75%). The biggest influences were: food products (-1.06 p.p), petroleum refining and alcohol production (0.29 p.p.), other chemical products (0.16 p.p) and basic metals (0.13 p.p).

In relation to March of 2012, the price change was of 6.64%, against 7.71% in February. The four highest price changes in this comparison were tobacco (19.06%), other chemical products (13.45%), beverages (10.14%) and petroleum refining and alcohol production (9.74%) and the major influences came from food products (1.65 p.p.), other chemical products (1.43 p.p.), petroleum refining and alcohol production (1.07 p.p.) and rubber and plastic (0.30 p.p.). The thirteen sectors that stood out in March are reviewed below.

Food products: the prices of the food sector fell in relation to the previous month for the third consecutive month. The fall in March was of -1.25%, below that of January (-1.52%) and of February (-2.58%). The sector registered a cumulative change of –5.26% in the year.  Prices increased 8.78% in March 2013 compared with March 2012. "Residues of soybean oil extraction" and "refined sugar" were the highlights, both in terms of change and influence. Together with the other two products that stood out just in terms of influence ("crystallized sugar" and "crude soybean oil"), they accounted for -1.36 p.p. of the change of -1.25%.

Beverages: the prices of beverages changed -0.21% in March 2013, the fifth fall in a row. As a consequence, the cumulative change of the sector was of -1.25%. The cumulative index of 10.14% in 12 months represented another drop in the results since September 2012, when the highest change in the series was reached (19.06%). Despite the price fall in the sector, in terms of change and influence, "soft drinks" and "beverage syrup for industrial purposes" changed positively, offset by the negative changes in "beer and draft beer" and "sugarcane aguardiente".

Tobacco: the prices in the tobacco sector posted a change of 0.68% in comparison with the previous month. In the cumulative index of 2013, the change was of - 0.23%, reaching a plateou between the 4.7% dollar devaluation in relation to the real - which reduced processed tobacco prices - and the rise in cigarette prices due to IPI reduction (the more expensive the cigarettes, the lower the tax). In the cumulative index in 12 months, there was a positive change of 19.06%, the lowest since February (23.32%). 

Textiles: February's price acceleration did not remain in March.  The sector of textiles decreased -0.11%. In the cumulative index in the year, the sector kept registering one of the highest price changes among the activities: 3.14%. The cumulative index in 12 months had a positive change of 4.11%.

Apparel and accessories: the sector had the second highest change in the month, in the comparison with other activities of the industry: 1.35%, higher than the one seen in the previous month (1.07%), mostly due to the launch of winter collections.  In the cumulative indicator in the year, the change was at 2.35% and, in the cumulative index in 12 months, 4.93%. The highlights were "cotton panties and/or bras" and "cotton T-shirts and camisoles", with the largest highs and the major influences.

Wood: in March 2013, the prices of the wood sector changed by 1.61%, the biggest result since November 2012 (1.90%). The sector accumulated 2.65% in the year and 9.44% in 12 months. This result is the highest since August 2012 (10.67%). "Sawed, planed or polished wood" was the only product with a negative highlight in the cumulative index in the year

Petroleum refining and alcohol production: this activity rose 0.95% in March. In the year, the sector accumulated a high of 2.69% and, in 12 months, of 9.74%. Out of the four products that had more weight (0.92 p.p. out of 0.95% of the whole sector), three were related to refining - "diesel fuel and other oil fuels", "aviation kerosene" and "basic lubricants"- and one to the alcohol sector- "ethyl alcohol (anhydrous or hydrated)".

Other chemical products: the prices in the chemical industry registered in March a change of 0.41% in relation to February, keeping the upward trend presented since December 2012, when the rate was 0.42% over November. In the year, the high was at 1.44%, whereas in the March 2013/March 2012 comparison, the sector had a rise of 13.45%.

Rubber and plastic: in March 2013, the activity prices presented a positive change of 0.42% over a positive change of 0,.15% in February. The cumulative rate in the year was at 1.62% and in the 12 months, at 8.12%. In the long-run analysis, it is possible to realize that, in the first quarter of 2013, the indexes were at higher levels than in the last quarter of 2012.

Basic metals: in March 2013, the prices of the sector of basic metals had a positive change of 1.09%, the highest positive change since May 2012.  This month, out of the four products in the spotlight, "carbon steel wires", "carbon steel hot bobbins - uncoated" and "galvanized steel bobbins or plates", all related to steel mill, had price increases. The cumulative index in the year was at 1.69% and, in 12 months, at 3.44%.

Computer, electronic and optical products:  in March 2013 the sector recorded a positive change of 0.31% against February, the first positive result since September 2012. In the year and in 12 months, there were drops of -3.32% and -5.70%, respectively.

Motor vehicles: in March 2013, the activity prices represented a negative change of 0.20% against a positive change of 0.03% in the M/M-1 rate recorded in February. As a result, the cumulative index in the year, with a positive change, closed at 0.68%. In the cumulative index over 12 months, the activity posted a positive change of 1.81% against a positive change of 2.02% in February.

Other transportation equipment: in March 2013, the activity prices had a positive change of 0.47%. The cumulative index in the year registers a fall of -2.75% and in the 12 months the sector had a 7.87% high.  In the month, "airplanes weighting more than 2,000kg" and "motorcycles with an engine displacement higher than 50cm3" had a positive change, while "manufacture or maintenance of boats" had a negative influence.


Social Communication
April 26, 2013

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