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IPCA-15: 0.93% in March

March 25, 2021 09h00 AM | Last Updated: March 25, 2021 11h53 PM

The Extended National Consumer Price Index 15 (IPCA-15) reached 0.93% in March and was 0.45 percentage points (p.p.) above the February rate (0.48%). That is the highest result in a month of March since 2015 (1.24%).

IPCA-E, which is composed of cumulative IPCA-15 in a quarter, stayed at 2.21%, above the 0.95% of the same period in 2020. That was the highest IPCA-E for a first quarter since 2016 (2.79%).

In 12 months, IPCA-15 had a cumulative increase of 5.52%, above the 4.57% registered in the 12 previous months. In March 2020, the rate was of 0.02%.

March 2021 0.93%
February 2021 0.48%
March 2020 0.02%
Cumulative in the year 2.21%
Cumulative in 12 months 5.52%

Among the nine groups of products and services surveyed, eight recorded increases in March. The biggest impact (0.76 p.p.) and the biggest change (3.79%) das that of Transportation , which accelerated in relation to the February result (1.11%). The second biggest impact came from Housing (0.71%), which accounted for 0.11 p.p. of the month's result.

Food and beverages decelerated, with a change from 0.56% in February to 0.12% in March, an impact of 0.03 p.p. The group recording decrease was Education (-0.51%), which had recorded an increase of 2.39% in the previous month. The groups ranged between increases by 0.02% in Communication and by 0.55% in Household articles

Group Monthly Change (%) Impact Cumulative Change (%)
January February March March Quarter 12 months
General index  0.78 0.48 0.93 0.93 2.21 5.52
Food and beverages  1.53 0.56 0.12 0.03 2.21 14.51
Housing 1.44 -0.74 0.71 0.11 1.41 4.92
Household articles 0.81 1.01 0.55 0.02 2.40 7.69
Wearing apparel  0.85 0,00 0.03 0.00 0.88 0.07
Transportation 0.14 1.11 3.79 0.76 5.08 6.17
Health and personal care 0.66 0.46 0.24 0.03 1.37 1.58
Personal expenses  0.40 0.15 0.10 0.01 0.66 0.82
Education 0.11 2.39 -0.51 -0.03 1.98 -1.19
Communication -0.01 -0.09 0.02 0.00 -0.08 2.77

The increase in Transportation was due to the rise of fuel prices (11.63%). The main individual impact on the monthly index (0.56 p.p.) came from gasoline (11.18%), the prices of which rose for the ninth month in a row. Other fuels also ethanol (16.38%), diesel (10.66%) and vehicle gas  (0.39%).

Also in Transportation, new cars (0.99%), used cars (0.30%) and car insurance (2.57%) amounted to 0.06 p.p. of contribution and had an impact on the rise for the group. Considering urban buses (0.42%), the increase is a consequence of the 8.70% adjustment in the prices of urban bus fares in Recife (7.14%), in effect since February 7. The subitem train registered an increase of 1.61%, due to the price adjustment of gasoline by 6.38% in Rio de Janeiro (4.26%), in effect since February 23. Considering decreases, the items app transportation (-2.38%) and airfares (-2.01%) recorded a less significant decrease from the previous month (-9.16% and -2.54%, respectively).

In Housing, the main contribution came from bottled gas (4.60% and 0.05 p.p.), with rise in prices recorded for the 10th month in a row. The items bottled gas (2.52%) and water and sewage rate (0.68%) accelerated from the previous months, when figures were of  1.19% and 0.45%, respectively.

In the case of bottled gas, there was a 3.50% price adjustment in Rio de Janeiro (2.10%), in effect since February 1st and two occurrences of adjustment  in Curitiba (19.04%): one of 8.07%, in effect since February 1st, and another one of 15.57%, in effect since February 16.

Considering water and sewage rates, there were price adjustments in  Fortaleza (5.77%), by 12.25%, in effect since January 29; and also in Curitiba (3.78%), by 5.11%, in effect since February 5th. 

Also considering Housing, electricity recorded an increase of 0.05% against a 4.24% in the February IPCA-15. The yellow tariff flag was in effect the entire period of the index, adding R$ 1.343 to one's electricity bill per every 100 Kw-hour consumed. In Rio de Janeiro (-0.57%), there was price adjustments of 4.66% and of 4.50% in concessionaires, in effect since March 15. 

In the group Food and beverages (0.12%), food at home fell 0.03% after seven consecutive months recording increase. The highlights were tomato (-17.50%), and potato (-16.20%), long life milk (-4.50%) and rice (-1.65%). From the perspective of increase, meat recorded a change of 1.72%. 

Food away from home decelerated, and registered 0.49% in March against 0.56% in February, with a contribution from snacks (0.64%) and meals (0.33%). In the IPCA-15 of February those items rose by 1.20% and 0.37%, respectively.

In March, IPCA-15 rose in all the areas surveyed

All the areas surveyed recorded a positive change in March. The main one came from the metropolitan area of Belém (1.49%), mainly due to gasoline (12.44%). The lowest change das that of the metropolitan area of Rio de Janeiro (0.52%), influenced by decrease in tomato (-21.73%) and potato (-16.91%). 

In order to calculate IPCA-15, prices were collected between February 12 dand March 15, 2021 (reference) and compared to those in effect between January 15 and February 11, 2021 (base). The indicator refers to households with an income from 1 to 40 minimum wages and encompasses the metropolitan areas of Rio de Janeiro, Porto Alegre, Belo Horizonte, Recife, São Paulo, Belém, Fortaleza, Salvador and Curitiba,  besides Brasília and the municipality of Goiânia. The methodology is the same as that of the IPCA; the difference lies in the period of data collection and in geographic coverage.