IPCA
Inflation stands at 0.56% in March, driven by food products
April 11, 2025 09h00 AM | Last Updated: April 11, 2025 09h58 PM
Inflation in the country stood at 0.56% in March, after a result of 1.31% in the previous month. All the groups of products and services recorded increases in the month, and Food products stood out, having increased from 0.70% to 1.17%, with an impact of 0.25 percentage points on the general index (p.p.). The cumulative index in the last 12 months went to 5.48% in March, above the 5.06% in the previous month. The cumulative increase of IPCA is 2.04%. In March 2024, the change had been of 0.16%. data come from the Extended National Consumer Price Index (IPCA), released today (11) by the IBGE.
Food and beverages accounted for 45%of the Monthly index. Tomate (22.55%), ground coffee (8.14%) and hen eggs (13,13%), with the biggest changes, altogether, accounted for one fourth of March’s inflation. The cumulative increase in ground coffee in the last 12 months is 77.78%.
“In summer months, tomato ripening was accelerated in some areas. Without these area in March, there was a drop in supply, which put pressure on prices. Eggs rose as a result of the price of corn, basic item in poultry feed, added to the fact we are now in Lent, a period characterized by the increased consumption of this protein,” says Fernando Gonçalves, manager of the survey.
Ground coffee has had a cumulative increase of 77.78% in the last 12 months, “driven by the rise of prices in the international market given the reduced supply of coffee worldwide, with crop failure in Vietnam resulting from harsh climate conditions, which also damaged domestic production.
Transportation, with a change of 0.46%, accounted for the second biggest impact (0.09 p.p.) in March, but decelerated from February (0.61%). The result was influenced by the rise of air fares, which accounted for the third biggest individual impact on the index, with a change from -20.46 in February to 6.91% in March.
On the other hand, fuels (0.46%), decelerated from February (2.89%). Gasoline changed 0.51% against 2.78% in the previous month, diesel 0.33% Against 4.35% and ethanol 0.16% against 3.62%. Vehicle gas accelerated -0.52% in February to 0.23% in March. Highlights in Transportation are the reduction of 1.09% in urban buses, which encompasses adjustments in fares of Porto Alegre and grants and free fares, on Sundays and holidays, in Curitiba and Brasília, respectively.
The third biggest impact (0.07 p.p.) and second biggest change came from personal expenses, which changed from 0.13% in February to 0.70% in March. “Acceleration from February was driven by the subitem cinema, theater and concerts (7.76%), with the end of the cinema that gave discounts in tickets in February,” the manager explains.
Housing, which had risen 4.44% in February, changed to 0.24% in March. Residential electricity, the main subitem in the group, decelerated from 16.80% in the previous month to 0.12% in March. “This change is composed of price adjustments in one of the concessionaires in Rio de Janeiro and increases and drops in Pis/Cofins shares of concessionaires,” Gonçalves explains.
Household articles (from 0.44% to 0.13%), Health and personal care (from 0.49% to 0.43%) and Education (4.70% to 0.10%) decelerated, whereas the prices of Wearing apparel (0.00% to 0.59%) and Communication (0,17% para 0,24%) accelerated.
In the special aggregated results of services, the IPCA changed from 0.82% in February to 0.62% in March, and the aggregated monitored prices, that is, the ones controlled by the government, went from 3.16% to 0.18%.
As for regional indexes, the highest change (0.76%) was found in Curitiba and Porto Alegre due to the rise of gasoline (1.84% and 2.43%, respectively). The smallest change was that of Rio Branco (0.27%) as a result of drops in airfares (16.01%) and, in Brasília (0.27%) with a reduction of 24.18% in urban buses.
INPC rises 0.51% in February
The National Consumer Price Index (INPC) rose 0.51% in March, after recording 1.48% in February. In the result, the cumulative index is 2.00% and, in the last 12 months, 5.20%, above the 4.87% observed in the immediately previous 12 months. In March 2024, the rate was 0.19%.
Food products accelerated from February (0.75%) to March (1.08%). The change of non-food products changed from 1.72% in February to 0.32% in March.
As for regional indexes, the biggest change was found in Curitiba (0.79%), influenced by the rise in gasoline (1.84%). Brasília (-0.33%) recorded the main drop, with a decrease of 24.18% in urban buses.
More about the surveys
The IPCA encompasses households with earnings between 1 and 40 minimum wages, whereas the INPC, covers households with earnings between 1 and 5 minimum wages, with residents 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 on Sidra. The next result of the IPCA, relative to March, will be released on May 9.
