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Inflation preview

IPCA-15 decelerates to 0.22%, lowest result for February since 1994

Section: Economic Statistics | Cristiane Crelier

February 20, 2020 09h00 AM | Last Updated: February 20, 2020 02h06 PM

 
After 4 months of highs, meat prices drop and take inflation down - Photo: Eduardo Peret/IBGE News Agency

The inflation preview was 0.22% in the month due to the fall in the price of meat (-5.04%) and airfare (-6.68%). The result is the lowest for  a February since the implantation of the "Plano Real", according to the Extended National Consumer Price Index 15 (IPCA-15), released today (20) by the IBGE. The result shows deceleration in inflation, which, in the year, accumulates a high of 0.93%.

Three out of the nine groups of products and services surveyed by the IBGE recorded deflation in February: Wearing apparel (-0.83%), Health and personal care (-0.29%)and Food and beverage (-0.10%). The fall in meat prices (-5.04%), after four months of highs (cumulative of 27.95%), had great impact on the inflation preview for February. Clothes, toiletries and personal hygiene items had less weight in consumers' incomes.

On the other hand, education got more expensive. Education rose 3.61%, reflecting the usual adjustments performed at the beginning of the academic year, especially in regular courses (4.36%). Besides, Transportation had a positive change of 0.20%, leveraged, mainly, by the adjustments in bus, train and subway fares in several places. However, air fares (-6.68%) fell for the second consecutive month (in January the change was of -6.45%).

 

The price of gasoline (0.21%), ethanol (2.69%) and diesel (0.04%) rose less than in the previous month (2.64%, 4.98% and 1.47%, respectively). Piped gas increased 0.28%, influenced by the high of 0.94% in Rio de Janeiro, where the tariffs of January 1st  increased (2.45%) and decreased (1.20%) in February 1st.

Regarding electricity, it has decreased by an average of 0.12% due to the change in the tariff flag. In January, the yellow flag was in force, which added R$1.343 per each 100 kw/hour consumed; in February, it changed to the green flag, which does not add additional charge in the electricity bills.

In the regional indexes, two out of the eleven surveyed regions recorded deflation in February: the metropolitan areas of Rio de Janeiro and Curitiba (-0.03%). In Rio de Janeiro, the result was influenced mainly by the falls in the meat prices (-10.40%). In Curitiba, meat (-3.45%) and air fare (-11.71%) contributed significantly to the month's result. The highest index was recorded in the metropolitan area of Fortaleza (0.48%), influenced by the increase of 5.86% in regular courses and 44.33% in tomato prices.


Keywords: Prévia, Inflação, IPCA-15, Preços, Carne, Passagens aéreas, fevereiro, 2020.



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