IPCA
Inflation stays at 0.71% in March, pressed by rise in gasoline
April 11, 2023 09h00 AM | Last Updated: April 11, 2023 01h27 PM
The Extended National Consumer Price Index (IPCA) stayed at 0.71% in March. In the year, inflation accumulates a rise of 2.09% and, in the last 12 months, of 4.65%, below the rate of 5.60% registered in the immediately previous 12 months. The monthly change had been 1.62% in March 2022. The data were released today (11) by the IBGE.
The group of Transportation stood out in the March´s index, being responsible for the biggest impact (0.43 p.p.) and the highest change (2.11%). It was followed by Health and personal care (0.82%) and Housing (0.57%), which decelerated in relation to February, contributing with 0.11 p.p. and 0.09 p.p., respectively. On the other hand, Household articles (-0.27%), which rose 0.11% in February, was the only group surveyed to drop this month. The other groups ranged between 0.05% in Food and beverages and 0.50% in Communication.
As the sub-item with the biggest individual impact on the March´s index (0.39 p.p.), gasoline (8.33%) weighted in the rise recorded in Transportation. Ethanol (3.20%) rose as well. “The results of gasoline and ethanol were mainly influenced by the return of the charge of federal taxes in the beginning of the month, established by Provisional Measure 1,157/2023. PIS/COFINS was expected to be charged on these fuels from March 1st onwards,” explains André Almeida, an analyst of the survey.
Vehicular gas (-2.61%) and diesel fuel (-3.71%) remained dropping in March. Having retreated 9.38% in February, airfare dropped 5.32% this time. Adjustments in taxi fare in Belo Horizonte, in intercity bus in the metropolitan areas of Rio de Janeiro and in urban bus in four areas included in the index also influenced Transportation.
On its turn, the group of Health and personal care was mainly impacted by the rise of 1.20% in health plans, which continues to incorporate the monthly fractions of new and old plans related to the 2022-2023 cycle. Compared with the previous month (2.80%), the items of personal hygiene (0.72%) registered a less intense change. Makeup articles rose 4.80%, whereas skincare products dropped 2.42% in March.
In the group of Housing (0.57%), the major contribution (0.09 p.p.) came from residential electricity (2.23%). The changes in the areas stayed between -0.65% in Belém, where PIS/COFINS was reduced and the ICMS increased, and 9.79% in Porto Alegre, where the use tariffs of the transmission (TUST) and distribution (TUSD) systems were reintroduced in the calculation basis of the ICMS. The same occurred in other areas, like Belo Horizonte (4.43%), Curitiba (3.88%) and Vitória (2.86%). In Rio de Janeiro (2.57%), adjustments of 7.49% and 6.00% were applied in the two concessionaires surveyed, both in effect on March 15.
In Food and beverages (0.05%), the drop in food at home, which changed from 0.04% in February to -0.14% in March, exerted a major influence. Potatoes (-12.80%) and soybean oil (-4.01%) recorded more intense retreats compared with February. Onions (-7.23%), tomatoes (-4.02%) and meat (-1.06%) reduced as well. In contrast, carrots (28.58%) and hen eggs (7.64%) stood out among the rises.
As the only of the nine groups surveyed to show a negative change in March, Household articles (-0.27%) had the drops in the items TV, sound and computers (-1.77%) as those major responsible for the result. TVs (-2.15%) and personal computers (-1.08%) were the steepest drops. Household appliances and equipment (-0.23%) also dropped, after rising 0.45% in February. “Sales promotions during the consumers week, occurred in March, may have influenced,” adds Almeida.
Concerning to the regional indexes, all the areas rose in March. The highest change was in Porto Alegre (1.25%), due to the rises in gasoline (10.63%) and residential electricity (9.79%). The lowest change was in Fortaleza (0.35%), where tomatoes fell 17.94% and whole chicken, 2.91%.
INPC rises 0.64% in March
The National Consumer Price Index (INPC) rose 0.64% in March, below that registered in the previous month (0.77%). In the year, the INPC accumulated a rise of 1.88% and, in the last 12 months, of 4.36%, below the rate of 5.47% registered in the 12 immediately previous months. In March 2022, the rate had been 1.71%.
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.
