The Extended National Consumer Price Index (IPCA) was 0.89% in November, 0.03 percentage points above the October's rate (0.86%). It was the highest change for November since 2015, when the IPCA was 1.01%.

In the year, the indicator accrued a rise of 3.13% and, in 12 months, of 4.31%, above the rate of 3.92% reported in the 12 immediately previous months.

In November 2019, the change had been 0.51%.

Of the nine groups of products and services surveyed, seven rose in November. The biggest change (2.54%) and impact (0.53 p.p.) came, once again, from the group of Food and beverages, which accelerated against October (1.93%). The second biggest contribution (0.26 p.p.) came from Transportation (1.33%). Together, the two groups accounted for nearly 89% of the November´s IPCA. Household articles (0.86%), in turn, decelerated in relation to the previous month (1.53%), as well as Wearing apparel (0.07% in November against a rise of 1.11% in October). The other groups remained between the drop of 0.13% in Health and personal care and the rise of 0.44% in Housing.

The acceleration registered in the group of Food and beverages (2.54%) was mainly due to the most intense rises in some items of the food for consumption at home sub-group (3.33%), like meat (6.54%) and potatoes (29.65%). The changes of these two components in October had been 4.25% and 17.01%, respectively. In addition, the prices of other important food in the households baskets, like tomatoes (18.45%), rice (6.28%) and soybean oil (9.24%) continued to rise. On the dropping side, the highlight was long-life milk, which dropped 3.47%.

Food away from home also accelerated between October (0.36%) and November (0.57%), especially influenced by meals (0.70%). The rises of beer (1.33%) and soft drink and mineral water (1.05%) also stood out, as they had dropped in the previous month (0.36% and 1.21%, respectively).

In Transportation (1.33%), the biggest contribution to the month´s index (0.08 p.p.) came from gasoline (1.64%), whose prices rose for the sixth month in a row. Still in fuels (2.44%), the rise of 9.23% in ethanol also stood out, impacting 0.06 p.p. on the November´s figure. It is also worth mentioning the positive changes in new cars (1.05%) and used cars (1.25%), which accelerated over the previous month (when they recorded 0.61% and 0.35%, respectively).

Still in Transportation, it should be highlighted that the drop of 0.15% in urban bus was due to the reduction of 3.19% in the fare practiced in Porto Alegre (-1.92%), in force since November 9.

The prices of Household articles increased 0.86% in November, a smaller change than that in October (1.53%). The deceleration was mainly due to the result of TV, sound and computer equipment (-1.02%), whose prices had risen 1.07% in the previous month. In addition, the rise of household appliances and equipment (0.72%) was less intense than that in October (2.38%). Furniture items (1.48%) changed like in the previous month (1.55%), contributing with nearly 0.02 p.p. to the month´s index.

The group of Wearing apparel (0.07%) also decelerated in November, mainly influenced by the drops in the prices of men’s wearing apparel (-0.33%) and footwear and accessories (-0.19%). On the rising side, the highlights were jewels and bijous (0.96%), whose prices increased in all the months of 2020 and accrued a rise of 14.75% in the year.

The drop in Health and personal care (-0.13%) was especially due to the retreat in the prices of perfumes (-1.90%) and make-up articles (-7.44%). On the other side, skin products rose 3.25%, contributing with 0.01 p.p. to the November´s figure.

In Housing (0.44%), the biggest impacts on the month´s index came from residential rent (0.44%) and bottled gas (1.37%), both with 0.02 p.p. As to piped gas (1.57%), the rise registered this month was due to the adjustment of 6.25% in the fare in Rio de Janeiro (5.45%), in force since November 24 and retroactive to November 1st after a legal decision. The item water and sewage fees changed 0.32% due to the adjustments of 5.88% in one of the concessionaires in Porto Alegre (0.19%), in force since October 1st, and of 3.32% in Belo Horizonte (2.90%), in force since November 1st.

Still in Housing, the result of electricity was 0.01%, with changes varying from the drop of 1.72% in Belém up to the rise of 3.69% in Goiânia, where the fare was adjusted by 2.57%, in force since October 22. Another reduction of 0.63% took place in Brasília (-0.09%) and an adjustment in one of the concessionaires in Porto Alegre (0.74%) and São Paulo (-0.59%) of 6.58% and 3.87%, respectively. In addition, São Paulo reduced PIS/COFINS in one of the concessionaires surveyed, leading the result of the area to the negative side.

All the areas surveyed rose in November. The highest figure was in the municipality of Goiânia (1.41%), due to the rises in meat (9.11%) and electricity (3.69%). The lowest figure was recorded in Brasília (0.35%), influenced by the drop in the prices of gasoline (-0.68%) and residential rent (-0.63%).

The IPCA has been calculated by the IBGE since 1980. It refers to households with monetary income of 1 to 40 minimum wages, whatever the source. It encompasses ten metropolitan areas in Brazil, besides the municipalities of Goiânia, Campo Grande, Rio Branco, São Luís, Aracaju and Brasília.

In order to estimate the index of the month, the prices collected from October 28 to November 27, 2020 (reference) were compared with the prices in force from September 29 to October 27, 2020 (base). It should be highlighted that, due to the COVID-19 pandemic, the IBGE suspended the face-to-face price collection at the points of sales on March 18. As of this date, prices began to be collected through other means, such as surveys on Internet sites, by phone or email.

INPC changes 0.95% in November

The National Consumer Price Index - INPC rose 0.95% in November, whereas it had registered 0.89% in October. This was the highest figure for November since 2015, when the IPCA stayed at 1.11%. The cumulative change over the year was 3.93% and, in the last 12 months, 5.20%, above the rate of 4.77% recorded in the 12 immediately previous months. The rate had been 0.54% in November 2019.

Food products rose 2.65% in November, while recording 2.11% in the previous month. Non-food products increased 0.42%, after posting 0.52% in October. In regional terms, all the areas registered positive changes this month, as shown in the following table. The municipality of Goiânia (1.40%) recorded the highest figure, mainly due to the rises reported in meat (9.43%) and electricity (3.78%). The lowest index, in turn, was in the metropolitan area of Belém (0.36%), due to the decline in the prices of electricity (-1.72%).

The INPC has been calculated by the IBGE since 1979. It refers to households with monetary income of 1 to 5 minimum wages, with a salaried head of the household. It encompasses ten metropolitan areas in Brazil, besides the municipalities of Goiânia, Campo Grande, Rio Branco, São Luís, Aracaju and Brasília.

In order to estimate the index of the month, the prices collected from October 28 to November 27, 2020 (reference) were compared with the prices in force from September 29 to October 27, 2020 (base).