The Extended Consumer Price Index-15 (IPCA-15) changed 0.17% in July, below 0.30 percentage points in relation to the rate of 0.47% in June. As a result, the cumulative index in the year stayed at 4.17%, above the rate of 3.52% of the same period in 2013. Considering the last 12 months, the IPCA-15 stayed at 6.51%, above the immediately previous 12 months (6.41%). In July 2013, the rate was 0.07%.

The complete data of the IPCA-15 can be accessed on page www.ibge.gov.br/home/estatistica/indicadores/precos/ipca15/defaultipca15.shtm.

The group Transportation (0.50% in June to -0.85% in July) was the main responsible for the drop in the index, down 0.16 percentage points of impact in the IPCA-15 of the month. Food and Beverages (0.21% to -0.03% in July) also caused an impact down, with -0.01 points. The results of the groups of products and services surveyed are shown in the table below:

In Food, many products became cheaper from one month to the other, especially: potatoes (-13.23%), tomatoes (-11.63%), black-eyed beans (-8.04%), carrots (-7.67%), carioca beans (-7.44%), onions (-6.36%), green vegetables (-5.33%), black beans (-5.32%) and cassava flour (-4.60%).

In the other groups, just Housing (0.29% in June to 0.48% in July) and Personal Expenses (1.09% to 1.74%) stopped falling.

The high of 28.63% in hotel daily rates, leading the ranking of the major impacts, with 0.13 percentage points, took personal expenses (1.74%) to the highest result in the group. The metropolitan area of Fortaleza stood out because of the rise of 57.95% in the price of the daily fees, followed by Brasília, where prices increased 45.74%. In the group of Personal Expenses, exceptionally, due to the non-availability of the information of the Monthly Employment Survey (PME) of Salvador and of Porto Alegre with reference to May, there was an adaptation in the calculation of the item “domestic workers”. The last available information on earnings for the two regions referring to April was used in order to estimate the trend of July's earnings. Thus, instead of estimating two months ahead (current methodology), from April on, three months ahead were estimated. The other areas followed the regular procedure described in technical note 02/2007, which estimates two months ahead based on May's earnings collected by PME. In July's index, then, the item “domestic workers” recorded 0.51%.

In Housing, a group which accelerated the growth rate of prices from June to July, the main pressures were exerted by electricity (1.35%), condominium fees (0.98%) and renting (0.92%). In the item “electricity”, the 1.35% high was influenced by the Metropolitan Areas of: São Paulo, whose change of 5.51% reflected the 18.00% adjustment in the prices in force on July 04; Recife, where the 4.75% change resulted from the 35.00% adjustment in the value of the Contribution to the Public Lightning Funding - COSIP, in force since June 13; Porto Alegre, with a 2.78% change due to the 23.00% repricing of the fares of one of the enterprises since June 19.

In this same group, Housing, there is a record of a 2.36% drop in the water and sewage fees even with the highs in the Metropolitan Areas of Salvador (5.99%), where the 7.80% adjustment is in force since June 06; Fortaleza (1.78%), up 7.30%, since July 06; Porto Alegre (1.25%), a 6.00% adjustment, in force on July first. The 2.36% drop in the average change of the item was influenced by the Metropolitan Area of São Paulo, where water and sewage fees stayed at -13.13%. This result took into account the repricing in the item aimed at adapting the cumulative index over the last two months as well as the greater intensity of the effect of the Water Consumption Reduction Incentive Program, approved by the deliberation of ARSEP no 469, of 02/03/2014 and enhanced by means of the approval of the ARSEP no 480, of 03/31/2014. The program's objective is to grant a 30% discount in water and sewage fees for users who reduce their monthly consumption by 20%.

As to labor force for small repairs, in this group Housing, also due to the non-availability of data from the Monthly Employment Survey (PME) of Salvador and of Porto Alegre with reference to May, these two areas had their calculation methodology adapted the same way the item “domestic worker ” did. The other areas followed the regular procedure described in technical note 01/2007, which estimates two months ahead based on May's earnings collected by PME. In July's index, then, the item “manpower for small repairs” recorded 0.25%.

Among the indices by area, the highest one was registered in Recife (0.71%) where hotel daily rates presented increase of 34.71% and weight of 0.95%, exerting a 0.33 percentage points impact in the result. The lowest index occurred in Belém (-0.13%), where food at home reached a change of 1.13% below July's rate.

The following table shows the results by area surveyed:

In order to estimate IPCA-15, prices were collected from June 12 to July 14 of 2014 (reference) and compared with those in effect from May 15 to June 11 of 2014 (base). The indicator refers to families 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, and also Brasília and Goiânia. The methodology is the same as the one used for IPCA; the difference lies in the period of price collection and geographic coverage.