IPCA-15
Inflation preview rises 0.25% in December; closes 2025 at 4.41%
December 23, 2025 09h00 AM | Last Updated: December 23, 2025 10h59 AM
The Extended National Consumer Price Index (IPCA-15) increased 0.25% in December and closed the year 2025 with a cumulative change of 4.41%. In 2024, the cumulative figure had been 4.71%, being 0.34% in December. The IPCA-E, which is the IPCA-15 accumulated quarterly, stayed at 0.63% for the period between October and December 2025. The data were released today (23) by the IBGE.
Among the nine groups of products and services surveyed, seven increased in December. The group of Transportation was responsible not only for the highest change (0.69%), but also for the most pronounced positive impact (0.14 p.p.). The biggest cumulative change in the year (6.69%) was in the group of Housing.
In December 2025, it is also worth mentioning the results for Wearing apparel (0.69% and 0.03 p.p.) and Personal expenses (0.46% and 0.05 p.p.). On the negative side, the most significant impact in December was from the group of Household articles (-0.02 p.p and -0.64%). The others were between a 0.01 decrease in Health and personal care and an increase of 0.17 in Housing.
In the group of Transportation (0.69%), the main and biggest individual impact on the month's index came from airfare, which rose 12.71% (0.09 p.p.). App-based transportation had an increase of 9.00% and 0.02 p.p. of impact. Fuels rose 0.26%, with increases of 1.70% in ethanol and 0.11% in gasoline. Vehicular gas and diesel fuel fell 0.26% and 0.38%, respectively.
Still in Transportation, the change of -0.69% in urban bus considers the free fares granted on Sundays and holidays in Belém (-5.93%) and Brasília (-7.43%), in addition to the fare reduction in Curitiba (-3.41%). In subway (-0.62%), the same movement occurs in Brasília (-7.43%) and, in São Paulo, the drop of 0.20%, also recorded in train (-0.11%), in addition to the -0.16% in the sub-item public transportation integration, consider the release of ticket payments on the days of the ENEM tests (November 9 and 16).
In the group of Wearing apparel (0.69%), the highlights were increases in children's (1.05%), women's (0.98%) and men's (0.70%) wearing apparel.
The group of Personal expenses slowed down from November (0.85%) to December (0.46%). Accommodation showed a negative change in December (-1.18%). On the other hand, some services such as hairdressing and barbering (1.25%), domestic workers (0.48%) and tourism package (2.47%) put positive pressure on the result.
Food and beverages, the group with the greatest weight in the index, changed 0.13%. Food at home (-0.08%) saw a drop in average prices for the seventh consecutive month. Contributing to this result were the declines in tomatoes (-14.53%), long-life milk (-5.37%) and rice (-2.37%). On the high side, meat (1.54%) and fruits (1.46%) stood out.
Food away from home registered a change of 0.65% in December, with increases in snacks (0.99%) and meals (0.62%).
The 0.64% drop in Household articles was driven by declines in household appliances and equipment (-1.41%) and in TV, sound and computer equipment (-0.93%).
In 2025, housing showed the biggest impact on the IPCA-15
The group of Housing stands out as the one with the greatest change (6.69%) and the greatest impact (1.01 p.p.) in 2025. The highlight is the sub-item residential electricity which, with an accumulated 11.95%, accounts for the biggest individual impact in the year (0.47 p.p.).
The second biggest impact in 2025 (0.77 p.p.) among the groups of products and services surveyed came from Food and beverages (3.57%).
The biggest impacts of the year on the food sector were: meals (6.25% and 0.23 p.p.), snacks (11.34% and 0.20 p.p.), ground coffee (41.84% and 0.20 p.p.) and meat (2.09% and 0.06 p.p.). On the dropping side we have: rice (-26.04% and -0.19 p.p.), long-life milk (-10.42% and -0.08 p.p.) and potatoes (-27.70% and -0.06 p.p.).
Porto Alegre showed the biggest price increase in December
As for regional indexes, ten out of 11 areas increased in December. The biggest change was observed in Porto Alegre (0.50%), due to increases in airfare (11.32%) and residential electricity (5.86%). In contrast, the lowest result occurred in Belém (-0.35%), with drops in accommodation (-53.72%) and personal hygiene items (-1.60%).
In the year, the most intense changes were observed in São Paulo, which showed a change of 4.94%; in Porto Alegre, whose change was 4.87%; and in Brasília, with 4.61% change.
More about the survey
To calculate the IPCA-15, the methodology used is the same as the IPCA, the difference lies in the price collection period and the geographic coverage. To calculate the IPCA-15 , the prices were collected in the period from November 14 to December 12 (reference) and compared with those in force from October 14 to November 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. Please take a look at the complete results on Sidra. The next release of the IPCA-15, for January 2026, will be on the 27 of the same month.
