Inflation in November was 0.28%, a change of 0.04 percentage points (pp) over the October´s rate (0.24%). This result was influenced by the rise in the prices of the group of food and beverages of the Extended National Consumer Price Index (IPCA), released today (12) by the IBGE. In the year, the official inflation accumulated a rise of 4.04% and, in the last 12 months, of 4.68%, below the rate of 4.82% recorded in the immediately previous 12 months.  The monthly change in November 2022 had been 0.41%.

Six out of nine groups of products and services surveyed rose this month, highlighted by food and beverages, which registered the highest change (0.63%) and the biggest impact (0.13 pp). This group came from a rise of 0.31% in October. “Higher temperatures and bigger volume of rainfall in several Brazilian regions are factors that influence food harvesting, especially those more sensitive to the climate, as the case of tubers, legumes and vegetables,” explains André Almeida, manager of the survey. The rises in onions (26.59%), potatoes (8.83%), rice (3.63%) and meat (1.37%) pressed the change of 0.75% of the sub-group of food at home. On the dropping side, tomatoes (-6.69%), carrots (-5.66%) and long-life milk (-0.58%) stand out.

Food away from home also rose in November (0.32%), though it decelerated in relation to the previous month, when its price expanded 0.42%. The rise in meals (0.34%) was also less intense than that recorded in October (0.48%).

Another highlight in the November´s inflation was the group of Housing, which rose 0.48%. “Influenced by several adjustments applied by concessionaires of public services,” justifies Almeida. Residential electricity closed the month with prices 1.07% above the previous month, due to adjustments applied in four areas: Goiânia (6.13%), adjustment of 5.91% since October 22; Brasília (4.02%), of 9.65% since October 22; São Paulo (2.80%), of 6.79% in one of the concessionaires surveyed, since October 23; and Porto Alegre (0.91%), of 1.41% in one of the concessionaires surveyed, since November 22.

The prices of water and sewage fees expanded 1.02%, explained by the adjustments of 14.43% in Fortaleza (13.41%), since October 29; and of 10.23% in Rio de Janeiro (7.60%), since November 8. Piped gas also rose (0.29%), due to the average adjustment of 0.98% applied in Rio de Janeiro (0.94%) since November 1st.

The rise of 0.27% in transportation was influenced by a new increase in the prices of  airfare (19.12%), sub-item accounting for the biggest individual contribution (0.14 pp.) to the monthly index. Fuels dropped 1.58%, since gasoline (-1.69%) and ethanol (-1.86%) reduced their prices, whereas diesel fuel (0.87%) and vehicular gas (0.05%) increased.

This group was also affected by the rise in taxi (2.22%), due to the adjustments of 6.67% applied in São Paulo (6.02%) since October 28, and of 20.84% applied in Porto Alegre (5.69%) since October 9.

As a result of the free pass in metropolitan transportation given to the whole population on the days of ENEM examinations (university entrance exam), from November 5 to 11, São Paulo (0.42%) registered a reduction of 6.45% in the sub-items train, subway, urban bus and public transportation integration. In Salvador, the sub-items urban bus (3.52%) and public transportation integration (2.59%) rose, due to the adjustment of 6.12% in the fare since November 13.

Rio de Janeiro records the highest inflation in November

In the analysis of the IPCA´s regional indexes, four areas reported negative changes in November, with the lowest result registered in São Luís, a drop of 0.39%, pressed by the reduction of 3.92% in gasoline.

On the other hand, the highest change was in Rio de Janeiro, with a rise of 0.57%, influenced by the rises in airfare (21.17%) and water and sewage fees (7.60%).

INPC was 0.10% in November

The National Consumer Price Index (INPC) was also released today. It rose 0.10% in November, below the change recorded in October (0.12%). The INPC shows a cumulative rise of 3.14% in the year. The cumulative index over the last 12 months is 3.85%, below the rate of 4.14% recorded in the immediately previous 12 months.  The rate in November 2022 had been 0.38%.

Food products changed 0.57% after rising 0.23% in October. Non-food products reported a negative change of 0.05%, below the result of 0.09% registered in the previous month.

Concerning the regional indexes, five areas recorded a drop in November, having São Luís as the lowest result (-0.45%), influenced by the drop in gasoline (-3.92%), and Rio de Janeiro as the highest one, pressed by the rise in water and sewage fees (7.60%).

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. The next result of IPCA, relative to December, will be released on January 11.