Producer Prices in Brazil Register Highest Increase on Record

The producer price index (PPI) in Brazil increased last month to its highest level on record, as the biggest economy in Latin America continues to struggle with the impact of the Coronavirus pandemic.

Producer prices rose by 5.2% on a monthly basis and by 28.6% on an annual basis, reaching their highest reading since the records began in January 2014.

The rise was led by the 27.9% monthly increase in mining costs, which surged by 87.6% on an annual basis, while the costs of oil refining and alcohol production increased by 12.1%.