IPCA
Inflation hits 0.83% in February, driven by the rise in Education
March 12, 2024 09h00 AM | Last Updated: March 14, 2024 02h27 AM
Inflation in the country accelerated in February and increased by 0.83%, after closing January at 0.42%. Prices in Education recorded the main increase (4.98%) and the biggest impact (0.29 p.p.) on the total figure. The data come from the Extended National Consumer Price Index (IPCA), released today (12) by the IBGE. The indicator recorded an increase of 1.25% in the year and of 4.50% in 12 months. In February 2023, the change was of 0.84%.
Seven of the nine groups surveyed recorded increases in February. In Education, regular courses (6.13%) accounted for the main contribution. “This result was due to price adjustments usually effected in the start of the school year,” says André Almeida, manager of the survey. The main changes came from high school (8.51%), elementary education (8.24%), preschool education (8.05%) and daycare (6.03%) Inflation also rose as for technical courses (6.14%), higher education (3.81%) and graduate courses (2.76%).
Besides Education, other groups also stood out with increases, such as Food and beverages, which rose by 0.95%, with an impact of 0.20 p.p. on the months IPCA. As for food at home, the increase hit 1.12%, with an impact of the rise of prices of onion (7.37%), potato (6.79%), fruits (3.74%), rice (3.69%) and long life milk (3.49%). “The climate exerted some influence in this case, due to higher temperatures and a bigger volume of rain,”Mr. Almeida. Food away from home recorded an increase of 0.49%, having accelerated from January, when inflation hit 0.25%. Prices of the subitem meals also rose: 0.67% in February against 0.17%. Snacks stood at 0.25%, having decelrated from the previous month (0.32%).
Inflation in February was also affected by Traansportation, with an increase of 0.72% and an impact of 0.15 p.p. on the IPCA. If, on the one hand, airfares recorded the main negative impact on the index (-0.09 p. p.), with a drop of 10.71%, on the other, all the fueld surveyed rose: ethanol (4.52%), vehicle gas (0.22%), diesel (0.14%) and, mainly, gasoline (2.93%), which accounted for the main individual impact on the survey (0.14 p.p.). Also in Transportation, there was an increase in the subitems taxi (0.64%) and urban buses (1.91%).
Also in Housing, the rises in water and sewage fees (0.27%) and piped gas (0.11%), and the drop in piped gas (-1.40%) stood out. In the group Communication (1.56%), the result was influenced by the rises in subscription TV (4.02%) and telephone, Internet and subscription TV combos (3.29%).
All the metropolitan areas recorded increases and Aracaju stood out
The IPCA also analyzes regional inflation. In February, all the areas covered by the survey recorded rise in prices, the main change being that of Aracaju (1.09%), driven by gasoline (10.45%). The lowest result was registered in Rio Branco (0.26%), due to the fall of airfares (-19.37%).
INPC rises 0.77% in February
The National Consumer Price Index (INPC) reached 0.81% in February, above the figure in the previous month (0.57%). The cumulative INPC in the year is 1.38% and, in the last 12 months, of 3.86%, above the rate of 3.82% relative to the 12 immediately previous months. In February 2023, the rate was 0.77%.
Food products changed by 0.95% in January, whereas non-food products rose by 0.77%. All the areas recorded increases, with the highest change in Aracaju (1.01%), influened by the rise of gasoline (10.45%), and the lowest change, in Goiânia (0.51%), driven by drops in airfares (-23.75%) and meats (-1.40%).
More about the surveys
The IPCA encompasses households with earnings between 1 and 40 minimum wages, whereas the INPC, households with earnings between 1 and 5 minimum wages, living in the Metropolitan Areas of Belém, Fortaleza, Recife, Salvador, Belo Horizonte, Vitória, Rio de Janeiro, São Paulo, Curitiba, Porto Alegre, as well as in the Federal District and in the municipalities of Goiânia, Campo Grande, Rio Branco, São Luís and Aracaju. Please access the data at Sidra. The next result of IPCA, relative to March, will be released on April 10th.
