Panel SA: Services inflation exceeds retail in São Paulo, says Fecomercio

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For the first time since September last year, inflation in the service sector in the metropolitan region of São Paulo surpassed that of retail. This is what the monitoring carried out by FecomercioSP shows. In June, while the IPV (retail price index) changed by 0.04% in relation to May, the IPS (services price index) increased by 0.83%.

Also according to the survey, the cost of living by social class in the largest metropolis in the country grew by 0.42% on the same basis of comparison.

What most influenced the result was the health category, which rose 1.28%. Higher income families were the most impacted.

The food and beverage sector also had a rise of 0.49%, pressured, above all, by beans (9.3%), yogurt and dairy drinks (3.6%) and French bread (0.9%).

For people with higher incomes, the rise in air ticket prices caused an increase of 0.53% in the transport group. At the other end, there was a deflation of 0.41% for the lower classes, reflecting the reduction in the value of ethanol. The June monitoring does not yet reflect the government-imposed cap on the ICMS rate.

The flow of consumers in shopping centers grew 19% in June compared to the same month in 2021, according to an indicator by HiPartners with SBVC (Sociedade Brasileira de Varejo e Consumo).

Comparing the week leading up to Valentine’s Day with the same period in 2019, before the pandemic, the movement in shopping centers fell by 20%.

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