The Extended Consumer Price Index (IPCA) accelerated from -0.11% in August to 0.48% in September, an increase of 0.59 percentage points (p.p.). In the year, inflation accumulates an increase of 3.64% and, in the last 12 months, the index stayed at 5.17%. The monthly change had been 0.44% in September 2024. The results were released today (9) by the IBGE.

Accounting for the highest change (2.97%) and biggest impact (0.45p.p.) on this month's index, the group of Housing expanded compared to August, when it had fallen 0.90%. This was the biggest increase in this group since February 2025 (4.44%). “Considering the months of September, the rise in this group was the biggest one since 1995 when it rose 4.51%,” highlighted Fernando Gonçalves, the IPCA manager. The main influence came from residential electricity, which went from -4.21% in the previous month to 10.31% in September, registering the biggest individual impact (0.41 p.p.) on the September´s rate.

According to the manager, “the increase in energy occurred as a result of the end of the Itaipu bonus, which granted discounts in the bills in August. Furthermore, the red tariff flag level 2 remained in force, which adds R$7.87 to the electricity bill for every 100 kWh consumed."

In the year, residential electricity accumulates an increase of 16.42%, standing out as the main individual impact (0.63 p.p.) on the indicator. In 12 months, the result is 10.64%, representing an impact of 0.44 p.p. in this type of comparison.

On the rising side, the group of Personal expenses also stands out (0.51%), with an impact of 0.05 p.p. The main highlights were tourism package, which rose 2.87%, and cinema, theater and concerts, which rose 2.75%, after falling 4.02% in August, due to the cinema week.

On the other hand, the group of Transportation registered an increase of 0.01%, with zero impact (0.00 p.p.), after a drop of 0.27% in August. The change reflects the increase in fuel prices (0.87%), which had fallen by, on average, 0.89% in the previous month. With the exception of vehicular gas (-1.24%), other fuels showed positive changes in September: ethanol (2.25%), gasoline (0.75%) and diesel fuel (0.38%). On the dropping side, voluntary vehicle insurance (-5.98%) and airfare (-2.83%) stand out.

On the other hand, the group of Food and beverages (-0.26%) dropped for the fourth consecutive month, with an impact of -0.06 p.p. The change in September was influenced by food at home, which fell 0.41%, after a reduction of 0.83% in August, highlighted by the drops in tomatoes (-11.52%), onion (-10.16%), garlic (-8.70%), potatoes (-8.55%) and rice (-2.14%). On the rising side, fruits (2.40%) and soybean oil (3.57%) stand out.

Food away from home decelerated between August (0.50%) and September (0.11%). In the same period, the sub-item snacks went from 0.83% to 0.53%, and meals went from 0.35% to -0.16%.

Gonçalves notes that “the group of food for consumption at home continues to show negative changes, given the greater supply of products, which is possibly reflected in eating out, with the drop in meal prices.”

Communication (-0.17%) and Household articles (-0.40%) also had deflation, both with impacts of -0.01 p.p. The other groups registered positive changes and impacts: Education (0.07% and 0.01 p.p.), Health and personal care (0.17% and 0.02 p.p.) and Wearing apparel (0.63% and 0.03 p.p.).

The diffusion index, that is, the percentage of sub-items that registered positive results, fell from 57% in August to 52% in September. The group of food showed an increase in diffusion from August to September, from 47% to 48%, while the non-food group recorded a drop from 65% to 56%.

“Even with the smaller diffusion among non-food sub-items, and disregarding residential electricity, the sub-item with the greatest impact on the IPCA, the change in the September´s index would be 0.08%,” highlighted the manager.

In the special aggregate of services, the IPCA slowed from 0.39% in August to 0.13% in September, and the aggregate of monitored prices, that is, those controlled by the government, accelerated from -0.61% in August to 1.87% in September.

“In services, we can see the slowdown in the group of food away from home (from 0.50 in August to 0.11 in September), as well as the drops in airfare (-2.83) and voluntary vehicle insurance (-5.98%). The fluctuation in those monitored was due to the contribution of gasoline and, especially, residential electricity, negative in August and positive in September,” analyzes Gonçalves.

As for the regional indexes, São Luís presented the highest change (1.02%), driven by the increase in residential electricity (27.30%) and ground coffee (4.31%). The lowest change (0.17%) was recorded in Salvador, due to the decline in tomatoes (20.08%) and voluntary vehicle insurance (-6.36%).

INPC rises 0.52% in September

The National Consumer Price Index (INPC) registered an increase of 0.52% in September. In the year, the accumulated figure is 3.62% and, in the last 12 months, 5.10%, above the rate of 5.05% observed in the immediately previous 12 months. In September 2024, the rate had been 0.48%.

Food products went from -0.54% in August to -0.33% in September. The change in non-food items went from -0.10% in August to 0.80% in September.

As for the regional indexes, the highest change (0.98%) occurred in Vitória, due to residential electricity (12.53%) and gasoline (3.76%). The lowest change occurred in Salvador (0.16%), due to the drop in tomatoes (-20.08%) and personal hygiene items (-0.93%).

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 on Sidra. The next result of the IPCA, relative to October, will be released on November 11.