Brazil Producer Prices Fall Most On Record

(RTTNews) - Brazil's producer prices decreased at the fastest pace in history, figures from the Brazilian Institute of Geography and Statistics, or IBGE, showed on Thursday.

The producer price index in the general industry fell 9.2 percent year-over-year in May, following a 4.63 percent decrease in the previous month.

Further, the latest decline was the biggest in the historical series of this indicator, the agency said.

Prices for other chemical products alone plunged 28.49 percent annually in May, closely followed by refining fuel and bio-fuels by 28.05 percent.

Among major economic categories, prices for the intermediate goods sector declined notably by 14.85 percent, and those for consumer goods dropped by 2.31 percent.

On a monthly basis, producer prices dropped 3.1 percent in May versus a 0.4 percent fall in April.