The Extended National Consumer Price Index - IPCA changed 0.29% in January, 0.15 percentage points (p.p.) below the rate of 0.44% in December. This was the lowest IPCA for January since the implementation of the Real Plan. Considering the last 12 months, the index fell to 2.86%, below the 2.95% recorded over the 12 months prior to that period. The rate was 0.38% in January 2017.

The National Consumer Price Index - INPC stayed at 0.23% in January, also the lowest rate for January since the creation of the Real Plan. The cumulative index in the last 12 months stood at 1.87%. The complete publication, presentation and time series of the IPCA and INPC are on the right of this page.

Except for the groups of Housing (-0.85%) and Wearing apparel (-0.98%), the other groups registered positive changes, highlighted by Transportation (1.10%), the highest change among the groups of products and services surveyed, and Food and beverages (0.74%).

In the group of Transportation, fuels (2.58%) stood out. Having exerted the biggest individual impact on the month´s index, gasoline (2.44%) contributed with 0.10 p.p. and changed between 6.33% in Belo Horizonte and -1.68% in Brasília. Ethanol became, on average, 3.55% more expensive and Belo Horizonte once again registered the highest rise (9.08%).

Weighting 2.64% in the budget of households, urban bus readjusted its fare in four out of 13 areas surveyed, according to the following table:

Intercity bus fares were also readjusted in five areas, according to the table below.

* The adjustment varied from 3.15% and 4.95% in São Paulo.

São Paulo also registered an adjustment of 5.26% in train and underground fares, in force since January 7.

In spite of recording the highest change among the groups, Transportation decelerated the increase rate of prices between December and January, from 1.23% to 1.10%. It was mainly due to airfare, which changed from a rise of 22.28% in December to a drop of 1.35% in January, and car repair (from -0.29% to -0.74%).

On the other hand, the group of Food and beverages accelerated from December to January, from 0.54% to 0.74%. Food for consumption at home changed from 0.42% to 1.12% and food consumed away from home, from 0.74% to 0.06%.

In food products, tomatoes (45.71%) and potatoes (10.85%) stood out. The major changes in food products are found in the table below.

Major rising food items:

Major dropping food items:

The group of Housing fell 0.85%, leveraged by electricity bills, which became 4.73% cheaper and were the major downward impact (-0.17 p.p.). This was due to the suspension of the additional R$0.03 per each kWh consumed related to the red tariff flag level 1, in force in December. In addition, the PIS/Cofins tax rate was reduced in some areas surveyed.

Of the 13 areas surveyed, only Porto Alegre registered a rise in electricity (5.00%), as one of the concessionaires was adjusted by 29.60% since December 21. In the other places, the changes varied from -8.03% in Belém to -0.39% in Vitória.

Still in the group of Housing (-0.85%), the following items should be highlighted:

• Water and sewage fees (0.12%): adjustment of 8.43% in Belém (3.32%) since December 12; adjustment of 5.70% in Fortaleza (1.43%) since January 22, and in Campo Grande (1.31%), adjustment of 1.83%, which came into force on January 6;
• Piped gas increased (1.34%), reflecting the adjustment of 2.77% in Rio de Janeiro (2.54%), in force since January 1st.

Bottled gas dropped 0.32%. On January 19, Petrobras announced the reduction of 5.00% in the price of bottled gas sold in 13-kg cylinders in the refineries.

In terms of the regional indexes, the lowest one was recorded in Brasília (-0.15%), where electricity (-5.19%) and gasoline (-1.68%) stood out. The highest index was reported in Vitória (0.70%), highlighting  gasoline (3.55%) and tomatoes (74.68%). See below the table of monthly results by area surveyed.

The IPCA has been calculated by IBGE since 1980. It refers to families with monthly income of one to 40 minimum wages, whatever the source, and it encompasses ten metropolitan areas in Brazil, besides the municipalities of Goiânia, Campo Grande and Brasília. In order to estimate the index of the month, the prices collected from December 29, 2017 to January 29,  2018 (reference) were compared with the prices in force from November 30 to December 28, 2017 (base).

INPC changes 0.23% in January

The National Consumer Price Index - INPC changed 0.23% in January and stood 0.03 p.p. below the rate of 0.26% in December, becoming the lowest rate for January since the implementation of the Real Plan. Considering the last 12 months, the index fell to 1.87%, below the 2.07% recorded over the 12 months prior to that period. The INPC registered 0.42% in January 2017.

Food products rose 0.76% in January, while recording 0.43% in the previous month. The group of Non-food products did not change, whereas posting a rise of 0.19% in December.

Concerning the regional indexes, the lowest one was registered in Brasília (-0.15%), where electricity (-5.20%) and gasoline (-1.68%) stood out. The highest index was recorded in Vitória (0.64%), highlighted by tomatoes (74.68%) and urban bus fare (3.18%). See below the table of monthly results by area surveyed.

The INPC has been calculated by IBGE since 1979. It refers to families with monthly income of one to five minimum wages, with a salaried head of the family, and it encompasses ten metropolitan areas in Brazil, besides the municipalities of Goiânia, Campo Grande and Brasília. In order to estimate the index of the month, the prices collected from December 29, 2017 to January 29,  2018 (reference) were compared with the prices in force from November 30 to December 28, 2017 (base).