Extended National Consumer Price Index 15 (IPCA-15) increases 0.81% in November and is 0.13 percentage points below the October rate (0.94%). That has been the biggest change recorded in November since 2015, when IPCA-15 was 0.85%.

Cumulative increase of the index in the year is 3.13%. In the month, 4.22%, above the 3.52% of the 12 previous months.

In November 2019, the rate was 0.14%.

All the groups of products and services rose in November, with a highlight to Food and beverages (2.16%), which accounted for 0.44 p.p. of the monthly index. The second biggest impact (0.20 p.p.) came from Transportation (1.00%), which decelerated against the previous month (1.34%). Household articles (1.40%) and Housing (0.34%) had similar figures to those in October, when changes had been 1.41% and 0.40%, respectively. The others ranged between 0.01% in Education and 0.96% in Wearing apparel.

Food and beverages changed 2.16% in November and has a cumulative increase of 12.12% in the year. Prices of food at home rose 2.69%, due to the rise of some important items in the basket of consumption of families, such as meat (4.89%), rice (8.29%) and potato, with a change from -4.39% in October to 33.37% in November. Tomato (19.89%) and soybean oil (14.85%) also rose, although the last one decelerated against the previous month (22.34%). A highlight among items recording decrease was long-life milk, whose prices fell by 3.81%.

Food away from home increased from 0.54% in October to 0.87% in November, mainly due to the rise of snacks (1.92%). Meals, in turn, changed by 0.49%, against an increase of 0.93% in the previous month.

In Transportation (1.00%), the main impact (0.06 p.p.) came from gasoline (1.17%), the most relevant subitem in the composition of IPCA-15. Prices of other fuels such as ethanol (4.02%), diesel (0.53%) and vehicle gas (0.55%) also rose. The second main contribution to the group (0.03 p.p.) came from new cars, with an increase of 1.07%. It is worth mentioning the deceleration observed in airfares, which went from an increase of 39.90% in October to 3.46% in November.

Regarding Transportation, the main decreases were observed in prices of interstate buses (-0.52%) and intercity buses (-0.40%).

In the case of Household articles(1.40%), the main contributions came from furniture (2.40%) and Household appliances and equipment (2.23%), both with an impact of 0.02 p.p. A highlight is the 11.23% rise of air conditioner prices. TV, sound and equipment decelerated against the previous month, having changed from 1.68% in October to 0.10% in November.

In Housing (0.34%), the positive change of water and sewage fares (0.33%) reflects the adjustments of 3.04% in Belo Horizonte (1.33%), in effect since November 1st, and of 5.88% in a concessionaire of Porto Alegre (1.69%), in effect since October 1st. The result of electricity (-0.04%) was influenced by two adjustments and a reduction: Brasília (-0.01%), a decrease of 0.63%, in force since October 22; Goiânia (0.79%), a price adjustment of 2.57%, since October 22nd; and São Paulo (-0.39%), a 3.87% adjustment in one of the concessionaires surveyed, in effect since October 23rd.

In São Paulo, despite the adjustment, there was reduction of the PIS/COFINS rate in one of the concessionaires surveyed, leading to a negative result.

Wearing apparel rose from 0.84% in October to 0.96% in November. Whereas women’s apparel changed from -0.10% to 0.97%, men’s (1.49%), children’s apparel (0.74%) and footwear and accessories (0.33%) rose for the second month in a row. Jewelry and costume jewelry (2.27%) also keep their results and have a cumulative increase of 13.19% in the year.

All the Major Regions surveyed recorded increases, with the lowest result recorded in the Metropolitan area of Recife (0.31%), mainly due to the fall of gasoline prices (-1.37%). The highest figure was recorded by the municipality of Goiânia (1.26%), where the 3.25% hike of gasoline was the main contribution.

In order to estimate IPCA-15, prices collected from October 14 to November 12, 2020 (reference) were compared with those in force from September 12 to October 13, 2020 (base). The indicator refers to families with a 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 of IPCA; the difference lies in the period of price collection and in the geographic coverage.