The Extended Consumer Price Index-15 (IPCA-15) changed by 0.60% in March, a rate below that of February...

Among the indexes by area, the main result was that of Fortaleza (1.06%), reflecting the price rise of fares of formal courses (7.19%) in March. The lowest index was that of Belém (0.15%) mainly due to the decrease of 2.75% in the prices of medicines. 

For the calculation of IPCA-15, prices collected from February 12 to March 15, 2011, were compared to those in effect from January 15 to February 11, 2011. The indicator refers to families with monthly income ranging from one to 40 minimum wages and encompasses the metropolitan areas of Rio de Janeiro, Porto Alegre, Belo Horizonte, Recife, São Paulo, Belém, Fortaleza, Salvador and Curitiba, besides Brasília and Goiânia. The methodology is the same as that used for IPCA; the difference lies in the price collection period.

The Extended Consumer Price Index-15 (IPCA-15) changed by 0.60% in March, a rate below that of February, 0.97%. The Special Extended Consumer Price Index (IPCA-E), which is IPCA-15 accumulated in the last three months, recorded a change of 2.35% in the first quarter of the year, being above the result for the same period in 2010 (2.02%). Considering the last 12 months, the index was 6.13%, above that in the immediately previous 12 months (6.08%). In March 2010, the rate was 0.55%.

The fall of IPCA-15 in March occurred mainly due to the group education, which concentrated in February the effects of seasonal price rise from the beginning of the year. Considering March results, the group recorded a rate of 1.03%, whereas, in February, it had recorded 5.88%. The March rate of 1.03% reflects, basically, the changes which occurred in the metropolitan area of Fortaleza (5.27%). As a result, the group non-food products recorded a change from 1.09% in February to 0.64% in March.

Food products, which remain showing deceleration in price rise, having changed from 0.57% to 0.46%, also contributed to deceleration of the index in March. Although tomatoes got 16.57% more expensive, as well as potatoes, which rose 9.66%, and fruits, 3.33% more expensive, most of the products recorded fall of prices from one month to the other. Meat, with the biggest contribution to IPCA, faced decrease of 2.33% and accounted for the most significant negative contribution (-0.06 percentage points). Other highlights were: carioca beans (-6.91%), refined sugar (-2.55%), black beans (-2.48%), jerked meat (-2.23%), chicken (-1.52%) and rice (-1.27%).

Expenditure on health and personal care also recorded low changes, having fallen from 0.52% to 0.35%. The highlights in this case were medicines (from -0.07% in February to -0.11% in March). As a consequence of sales period in the end of each season, apparel changed from 0.13% in February to -0.37% in March.

In the group, personal expenses, the hike of 1.04% was significant, although inferior to that of February (1.17%). Fall was caused by the item recreation (from 1.19% to 0.39%), whereas the relatively high level of the groups result was strongly affected by the salaries of domestic workers (from 0.91% to 1.54%), also considering the item cigarettes (from 1.61% to 2.30%).

The other groups recorded results above the ones in February, with transportation (from 1.04% to 1.11%) as the leader in March. Airfares, which had recorded decrease of 11.45% in February, rose to 29.16% in March. Hike was also observed in fuels, from 0.72% to 1.09%. Gasoline changed from 0.51% to 0.76%, whereas ethanol did from 2.83% to 4.68%. The group transportation was also affected by the fares of intercity buses (which fell from 1.28% to 1.94%) and urban buses (from 3.37% to 0.83%), despite the reduction of the latter from one month to the other.

See below the result of groups in January, February and March, besides the index accumulated in the quarter.