The Extended National Consumer Price Index 15 (IPCA-15) changed by 1.24% in March, being 0.09 percentage points below the February rate (1.33%). As a result, IPCA-E, which consists of the cumulative IPCA-15 by quarter, was 3.50%, above the 2.11% rate recorded in the first three months of 2014. Considering the last 12 months, the index reached 7.90%, the highest result since May 2005 (8.19%). In March 2014, the rate was 0.73%. The complete IPCA-15 data are available at www.ibge.gov.br/english/estatistica/indicadores/precos/ipca15/defaultipca15.shtm.

The 1.24% rate is attributable basically to the increase in the electricity bills, in fuel prices and in food products which, together, were responsible for 77.42% of the index of the month, on which it exerted an impact of 0.96 percentage points (p.p.). With a rise of 10.91% in electricity, the group Housing (2.78%) stayed with the highest result in March (table below).

Electricity with an individual impact of 0.35 p.p. led the ranking of the main influences. The strong 10.91% increase occurred in the bills reflected the price rises which became in force on March 2: Both in the so-called tariff flag system, currently on the red flag - which increased 83.33% moving from R$3.00 to R$5.50 - and in normal pricing, considering the surcharges, as follows:

With an increase of 6.25%, fuels exerted an impact of 0.31 p.p. over the monthly index: 0.26 p.p. from gasoline, whose prices rose 6.68%. By region, the increase in gasoline ranged from 4.41% in Goiânia to 9.22% in Recife. The increase in gasoline reflects, for the final consumer, the increase of the quotes of PIS/Cofins authorized since February 1st and which also affected Diesel fuel, which became 4.05% more expensive. The consumer now pays 5.32% more in the liter of ethanol. As a result, IPCA-15 of the group transportation closed the month at 1.91%.

In food products the high reached 1.22%, pushed by several important products in the expenses of families, especially onions (19.07%), carrots (18.32%), tomatoes (13.04%), eggs (12.01%), green vegetables (7.62%) and Carioca beans (4.17%). In the Metropolitan Area of Curitiba the prices of food products rose 2.38%, whereas in Belém the increase was of 0.52%.

Besides these rises, other ones influenced the monthly index, with highlight to the items: car insurance (3.01%), personal hygiene (2.17%), intercity buses (1.82%), urban bus (1.39%), new cars (1.37%), labor force for small repairs (1.23%) and house appliances (0.94%).

Among the indices by area, the highest one was registered in the Metropolitan Area of Curitiba (1.72%), especially due to electricity (14.89%), urban bus (10.95%) and fuels (8.52%). The lowest index occurred in Belém (0.76%), where food products registered a change of 0.52%, quite below the national average (1.22%)(table below).

In order to estimate IPCA-15, the prices collected from February 12 to March 13 (reference) of 2015 were compared with the ones in force from January 14 to February 11 (base) of 2015. 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 in the geographic coverage.