---
slug: valor-deflacao
lang: en
titulo: Daily deflation factor applied to contractual and pecuniary obligations from February 1, 1991
resposta: The daily deflation factor is 1.0116 per business day, applied cumulatively from February 1, 1991.
curto: 1.0116/business day
tema: Energy contracts
revisada: 2026-10-04
proxima: 2027-04-04
---

## Data
| Obligation | Deflation factor | Source | Data date |
|---|---|---|---|
| Contractual and pecuniary obligations (1st/sep/1990 to 31st/jan/1991) without indexation clause or with fixed correction | 1.0116 per business day, cumulative from 1st/fev/1991 | Law No. 8.177/1991, art. 27, § 1° | 12/01/1991 |

Data consulted on 04/10/2026.

## Basis
- [Law No. 8.177/1991 (Planalto, in Portuguese)](https://www.planalto.gov.br/ccivil_03/leis/l8177.htm): Art. 27 defines the daily deflation factor (1.0116 per business day) for contractual and pecuniary obligations without indexation or with fixed correction, valid from February 1, 1991.

## How it applies
The 1.0116 deflation factor is applied daily and cumulatively from February 1, 1991, by dividing the nominal value of obligations by the result of successive multiplication of the factor by each business day until the due date. The rule applies to contracts and credit instruments (including trade bills) constituted between September 1, 1990, and January 31, 1991, without indexation clauses or with fixed monetary correction.

## Limits
- Exclusions: does not apply to tax obligations, school fees, condominiums, telephone, sewage, water, electricity, gas services, nor payments to non-profit clubs/associations (art. 27, § 3°).
- Changes: The Central Bank of Brazil (BC) could modify the factor or make it constant, provided 30 days' notice (art. 27, § 2°).
- Validity: this card only covers the initial period (1st/fev/1991 onwards). Later changes must be verified in Law 8.177/1991 or subsequent norms repealing or amending art. 27 (e.g., Law 9.069/1995 repealed part of art. 10).