IPCA-15
Inflation preview accelerates to 0.33% in July
July 25, 2025 09h00 AM | Last Updated: July 25, 2025 02h44 PM

The rise in residential electricity (3.01%) impacted the July´s IPCA-15 - Picture: Helena Pontes/IBGE News Agency
Inflation preview in July rose 0.33%, after registering 0.26% in June. Released today (25) by the IBGE, the Extended National Consumer Price Index 15 (IPCA-15) shows that the main change and positive impact on the index came from the group of Housing, with 0.98% and 0.15 p.p., respectively. The cumulative index in the year stayed at 3.40% and, in the last 12 months, at 5.30%, above the rate of 5.27% registered in the 12 immediately previous months. In July 2024, the rate had been 0.30%.
In addition to Housing, four out of nine groups of products and services surveyed rose in July: Transportation (0.67%), Personal expenses (0.25%), Health and personal care (0.21%) and Communication (0.11%). Food and beverages (-0.06%), Household articles (-0.02%) and Wearing apparel (-0.10%) showed a negative change, while Education (0.00%) registered a null change.
Responsible for the highest change and the biggest impact on the index, the group of Housing decelerated in relation to June, when it rose 1.08%. The 3.01% increase in the prices of residential electricity, the sub-item with the biggest positive impact on the July´s IPCA-15 (0.12 p.p.), contributed to the group's result. The red tariff flag level 1, with an additional R$4.46 charge for every 100kWh consumed, was maintained. In the previous month, residential electricity had changed 3.29%. A series of fare adjustments also influenced: 7.36% in Belo Horizonte (3.89%), since May 28; 14.19% in one of the concessionaires in Porto Alegre (5.07%), in force since June 19; 1.97% in Curitiba (3.33%), in force since June 24; 13.97% in one of the concessionaires in São Paulo (6.10%), in force since July 4; and a reduction of 2.16% in one of the concessionaires of Rio de Janeiro (0.44%) since June 17.
Still in Housing, water and sewage fees (0.25%) was adjusted by 9.88% in Brasilia (5.22%) on June 1, and by 3.83%in Curitiba (0.12%) since May 17.
On the other hand, the group of Transportation accelerated between June (0.06%) and July (0.67%). The rise was driven by airfare (19.86% and 0.11 p.p.) and ride-hailing apps (14.55% and 0.03 p.p.). On the other hand, fuels retreated 0.57%in July, with drops in the prices of vehicular gas (-1.21%), diesel fuel (-1.09%), ethanol (-0.83%) and gasoline (-0.50%).
It is worth mentioning the reflection of the gratuity granted on Sundays and holidays in subway (-0.14%) in Brasilia (-2.11%), and in urban bus (-0.44%) in Brasilia (-2.11%) and Belém (-5.79%), as well as the reduction in the fare on Sundays and holidays in Curitiba (-2.68%). In addition, taxi (0.67%) incorporated the average adjustment of 8.71% in the fare in Belo Horizonte (6.50%) since June 7
The group of Personal expenses (0.25%) had as its main highlight the price adjustment in games of chance (3.34%), in force since July 9.
In Health and personal care (0.21%), the sub-item health insurance plan rose 0.35%, as a result of the incorporation of the adjustments authorized by the National Agency of Supplementary Health (ANS). In the case of plans hired after Law No. 9,656/98, the percentage is up to 6.06%, valid from May 2025 and whose cycle ends in April 2026, while for those hired before the law, authorized percentages were 6.47% and 7.16%, depending on the plan.
The drop in Food and beverage prices (-0.06%) in July was the second one in a row. In June, this group retreated 0.02%. Food at home had a 0.40% reduction in prices in July, compared to -0.24% observed in June. The drops in potatoes (-10.48%), onion (-9.08%) and rice (-2.69%) impacted the result. On the rising side, tomatoes (6.39%) stood out after a 7.24% drop in the previous month.
Regarding food away from home, it accelerated between June (0.55%) and July (0.84%), due to the increase in snacks (from 0.32% in June to 1.46% in July) and meal (from 0.60% in June to 0.65% in July).
Concerning regional indices, the highest change was recorded in Belo Horizonte (0.61%), due to rise in gasoline (4.49%) and residential electricity (3.89%). The lowest result occurred in Goiânia (-0.05%), which showed a drop in the prices of ethanol (-4.23%) and gasoline (-1.63%).
More about the survey
For the calculation of the IPCA-15, prices were collected from June 14 to July 15 (reference) and compared to those from May 16 to June 13 (base). The indicator refers to households with monthly income of 1 to 40 minimum wages and it encompasses the metropolitan areas of Rio de Janeiro, Porto Alegre, Belo Horizonte, Recife, São Paulo, Belém, Fortaleza, Salvador, Curitiba, besides Brasília and the municipality of Goiânia. The methodology is the same as the one used for the IPCA; the difference lies in the period of price collection and in the geographic coverage. See the complete results on Sidra. The next release of IPCA-15, relative to August, will be on the 26th next month.