Brazil’s producer inflation rises 1.38% in February

Brazil’s producer price index rose 1.38% in February, compared to one year ago, according to data released Wednesday by the country’s Institute of Geography and Statistics (IBGE).

The price of drinks soared 18.13% on an annual basis followed by clothing with a 17.61% gain.

Producer inflation fell 0.3% in February from the previous month.

IBGE said 11 of the 24 industrial activities showed negative changes on a monthly basis.

The institute said there was a 0.22% price decline in capital goods and a 0.69% decrease in intermediate goods in February, compared to January.