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IPCA-15: -0.01% in April

April 28, 2020 09h00 AM | Last Updated: April 28, 2020 12h40 PM

The Extended National Consumer Price Index 15 (IPCA-15) changed by -0.01% in April. That was the lowest result for a month of April since the start of "Plano Real" and the index was 0.03 percentage points (p.p) below the rate of March (0.02%). In April 2019, the rate was 0.72%. In 2020, IPCA-15 recorded a cumulative change of 0.94% and, in 12 months, of 2.92%, below the 3.67% recorded in the previous 12 months. Deflation was observed in six of the nine groups surveyed in April.

Period RATE
April 2020 -0.01%
March 2020 0.02%
April 2019 0.72%
Cumulative in the year 0.94%
Cumulative in the last 12 months 2.92%

Transportation (-1.47%) accounted for the main negative contribution (-0.30 p.p.) to the index in April, just as in March, when  the group recorded decrease (-0.80%). Deflation was registered in other five groups in April, with highlight to Household articles (-3.19%), responsible for -0,12 p.p of the index. 

As for rising figures, Food and beverages (2.46%) accelerated against the March figure (0.35%) and accounted for the biggest impact on the IPCA-15 of April (0.48%). The other groups ranged between a decrease of 0.32%, of Health and personal care and an increase of  0.12%, recorded by Housing.

 Groups Change (%) Impact (p.p.)
March April March April
Overall index 0.02 -0.01 0,02 -0.01
Food and beverages  0.35 2,46 0.07 0.48
Housing -0.28 0.12 -0.04 0.02
Household articles  -0.05 -3.19 0.00 -0.12
Wearing apparel  -0.22 0.01 -0.01 0.00
Transportation -0.80 -1.47 -0.17 -0.30
Health and personal care 0.84 -0.32 0.11 -0.04
Personal expenses 0.03 -0.28 0.00 -0.03
Education 0.61 -0.01 0.04 0.00
Communication 0.33 -0.30 0.02 -0.02
Source: IBGE, Diretoria de Pesquisas, Coordenação de Índices de Preços, Sistema Nacional de Índices de Preços ao Consumidor.  

The decrease in Transportation (-1.47%) was mainly due to the fall of fuel prices (-5.76%). Gasoline (-5.41%), ethanol (-9.08%) and diesel (-4.65%) recorded more significant decreases than in the previous month and, together, represented an impact of -0.35 p.p. on the IPCA-15 of April. Gasoline accounted  for the main negative impact (-0.27 p.p.) on the monthly index in all the areas surveyed. Throughout March, Petrobras reported a series of reductions in the price of that fuel, the latest one of 5.00%, effected on March 28 (within the reference period).

Other items in Transportation recorded in April: vehicle insurance (-2.74%), application transportation (-3.11%) and rental vehicles (-7.68%). On the other hand, air fares rose 14.83%, after three months of decreases in a row. Urban buses also recorded a positive change (0.36%), resulting from the 5.00% rise in fares in Salvador (4.28%), in effect since March 12.

The group Household articles (-3.19%) contributed to the monthly index with a decrease of -0.12 p.p. Household appliances and TV, sound and computer equipment, the prices of which had risen in February and March, recorded decreases of 7.15% and 1.95%, respectively. Furniture  (-4.00%) also fell,  accounting for -0.04 p.p. in the monthly index. Among rising results, a highlight is the positive changes recorded by bed linen (0.69%), bath linen (0.82%), lighting articles (1.15%) and glass and chinaware items (1.23%).

Among the groups that recorded increase, Food and beverages (2.46%) accelerated against the previous month (0.35%) and accounted for the main impact on the IPCA-15 of April, with 0.48 p.p. A highlight was food at home, which rose 3.14%. Onion (35.79%) and tomato (17.01%) accelerated in comparison with March figures, which had been 7.92% and 4.93%, respectively.

Potato went from a decrease of 1.02% in March to an increase of 21.24% in April. Carrot (31.67%), in turn, a positive change for the fourth consecutive month, and had a cumulative figure of 102.71%. 

It is also worth mentioning fruits, whose prices rose 8.84% in April and accounted for 0.07 p.p. of the monthly index. The prices of meat (0.27%) fell for the third consceutive month, although less than in February (-5.04%) and March (-1.81%). 

Food away from home also accelerated from March (0.03%) to April (0.94%), influenced by the rise of snacks (3.23%). The item meals was close to stability (0,05%). 

In Housing (0.12%), the highlight is the rise of bottled gas (0.82%) water and sewer fares (0.28%), the latter as a result of the average price adjustment of 6.23% in one of the concessionaires of Porto Alegre (2.65%), in effect since March 21. In the item electricity (-0,10%), the main change was recorded by Rio de Janeiro (5.21%), due to price adjustments in the household fares of two effected on March 15. It is worth mentioning that that the green tariff flag remains valid in April. That means there is no additional charge in electricity bills.  Finally, the result of bottled gas (-0.27%) is a consequence of the average reduction (0.85%) in fares charged in São Paulo (-0.45%), starting on March 2.

Six of the 11 areas surveyed recorded deflation in April. The highest index was that of the metropolitan area of Rio de Janeiro (0.61%), influenced by the rise of electricity. The lowest result was that of  Goiânia (-0,52%), due to the fall of fuel prices (-8.13%), mainly of gasoline (-6.93%) and ethanol (-14.38%).

Area Peso Regional (%) Monthly Change (%)  Cumulative Change (%) 
March April Year 12 months
Rio de Janeiro 9.77 -0.03 0.61 1.03 2.27
Recife 4.71 0.32 0.17 1.42 2.59
Salvador 7.19 0.10 0.09 1.16 2.64
Fortaleza 3.88 0.44 0.02 1.81 3.76
Belo Horizonte 10.04 0.23 0.00 1.17 3.26
Porto Alegre 8.61 -0.20 -0.04 0.74 2.40
São Paulo 33.45 -0.03 -0.05 1.11 3.33
Belém 4.46 0.05 -0.16 1.04 3.89
Curitiba 8.09 0.13 -0.21 0.42 2.72
Brasília 4.84 -0.02 -0.40 0.06 1.99
Goiânia 4.96 -0.50 -0.52 -0.22 2.87
Brazil 100.00 0.02 -0.01 0.94 2.92
Source: IBGE, Diretoria de Pesquisas, Coordenação de Índices de Preços, SistemaNacional de Índices de Preços ao Consumidor.  

For the IPCA-15 calculation, prices were collected from March 17 to April 14, 2020 (reference) and compared with those in effect from February 12 to March 16 (base). Due to the Covid-19 pandemic, IBGE suspended on-site collection of price data on March 18. Since then, prices have been collected by other means, such as search on websites, telephone or email. The indicator refers to families with an income of 1 to 40 minimum wages and covers the metropolitan areas of Rio de Janeiro, Porto Alegre, Belo Horizonte, Recife, São Paulo, Belém, Fortaleza, Salvador and Curitiba, as well as Brasília and Goiânia. The methodology used is the same as that of the IPCA, the difference lies in the period of price collection and geographic coverage.