Brazil’s producer prices rose 2.37% in March 2026 compared with February, reversing a 0.16% decline in the previous month and marking the sharpest monthly increase in the PPI since March 2022. In this comparison, prices climbed in 18 of the 24 industrial activities surveyed. The largest increases were recorded in extractive industries (18.65%), other chemical products (5.03%), oil refining and biofuels (4.24%), and computer equipment, electronic products, and optical goods (2.50%). The jump in oil refining prices occurred amid a surge in energy costs following the oil shock triggered by the closure of the Strait of Hormuz.
By major economic categories, the PPI for intermediate goods rose 3.75%, consumer goods prices increased 0.95%, and capital goods prices edged down 0.18%. Despite the monthly acceleration, the 12‑month cumulative index remains negative at -1.54%, while the year‑to‑date variation stands at 2.53%.
