The Extended National Consumer Price Index (IPCA) hit 0.41% in November and stood 0.18 percentage points below the rate of October (0.59%). In the year, the IPCA recorded an increase of 5.13% and, in 12 months of 5.90%, below the 6.47% registered in the previous 12 months. In November 2021, the rate was 0.95%.The IPCA was released today (9).

Seven of the nine groups of products and services recorded increases in November. Together, the two groups represented nearly 71% of the November IPCA. The main change was that of Wearing apparel (1.10%), whose result was above 1% for the fourth month in a row. Housing (0.51%) exceeded last month’s result (0.34%). 

The rise of Transportation resulted, mainly, from the rise of fuels (3.29%), which had fallen by 1.27% in October. Prices of ethanol (7.57%), of gasoline (2.99%) and of diesel (0.11%) rose in November. The only exception was vehicle gas, with a decrease of 1.77%. Gasoline, especially, accounted for the main individual impact on the monthly index, with 0.14 p.p. It is also worth mentioning that the increases of license plates placing (1.72%), new cars (0.50%) and volunteer car insurance and (0.97%), which, together, accounted for 0.07 p.p. In terms of decrease, prices of airfares fell by 9.80%, after increases of 8.22% in September and of 27.38% in October.

“The rise of gasoline is related to the rise of ethanol prices. That took place due to a period between harvests of sugarcane. Gasoline includes anhydrous alcohol in its composition,” says the manager of the survey, Pedro Kislanov.

Food and beverages, the main items accounting for the rise of 0.53% were food products for consumption in the housing unit (0.58%). The biggest changes came from onions (23.02%) and tomato (15.71%), whose prices had alreasy risen in October (9.31% and 17.63%, respectively). The prices of fruits (2.91%) and rice (1.46%) also rose.

“As for onion there was reduction of the national supply, mainly in the Northeast, but also of other places such as São Paulo and Minas Gerais. This decrease was not covered by imports because there is not a big supply of onion in the foreign market. As for tomato, supply is usually affected by the wheather. At this time of year, the winter harvest is already sold out,” says Mr. Kislanov.

In terms of decreases, the highlight was long life milk (-7.09%), as it had already taken place in previous months. In the year, the cumulative change of th product that reached 77.84% in July, is now at 31.20%. There was also a decrease in the prices of chicken pieces (-1.75%) and cheese (-1.38%).

The change of food away from home (0.39%) stood next to that of the previous month (0.49%). Whereas meals decelerated from 0.61% in October to 0.36% in November, snack followed an opposite path, with a change from 0.30% to 0.42%.

In the group Wearing apparel (1.10%), except for jewelry and costume jewelry (-0.10%), all the items recorded positive changes. The highlights were women’s apparel (1.46%), men’s apparel (1.34%) and footwear and accessories (1.03%). In 12 months, the cumulative change of the group is 18.65%.

In Health and personal care (0.02%), deceleration can be, mainly, a result of the change of performance of personal hygiene articles, which changed from 2.28% in October to a decrease of 0.98% in November. Perfumes (-4.87%) and make up (-3.24%) stood out. Among the increases, the main contribution came from health insurance (1.20%), with 0.04 p.p. of impact on the November IPCA.

The result of Housing (0.51%) was influenced by the rise of residential rents (0.80%) and residential electricity (0.56%). In the case of electricity, the areas recorded changes ranging from -2.93% in Vitória to 19.85% in Brasília, where fares for residential supplied with low voltage had price adjustments of 21.54%, starting on November 3. There was also price adjustment of 3.62% in one of the concessionnaires in Porto Alegre (0.56%), in effect since November 22. Another highlight in the group was water and sewage fare (0.58%), which changed positively due to price adjustments of 11.82% in Rio de Janeiro (7.88%), in effect since November 8, and of 10.15% in Belém (0.61%), in effect since November 28.

It is worth mentioning, in Housing, that decreases of bottled gas (-0.37%) and piped gas (-0.70%). The price of bottled gas (13 kg) sold in refineries was reduced by 5.28% starting on November 17. In the case of bottles gas, there was a decrease of 2.47% in the fare charged in Rio de Janeiro (-2.17%), in effect since November 1st.

As for the regional indexes, all the areas registered a positive change in November. The highest index was that of Brasília (1.03%), due to the rise of electricity (19.85%). Vitória (0.09%) recorded the lowest change, mainly due to the fall of airfares (22.25%).

INPC up 0.38% in November

The National Consumer Price Index - INPC rose 0.38% in November, 0.09 p.p. below the result of October (0.47%). The cumulative index in the year has had a cumulative increase of 5.21% and, in the last 12 months, of 5.97%, below the 6.46% recorded in the previous 12 months. The rate in November 2021 was 0.84%. Food products changed from 0.60% of change in October to 0.55% in November. The prices of non-food products also rose less, and the change went from 0.43% in October to 0.32% in November.

More about the survey

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.