The Extended National Consumer Price Index (IPCA) increased by 1.17% in November and stood 0.03 percentage points below the rate of October (1.20%). That was the biggest change in November since 2002, when the index reached 2.08%. The cumulative change in the year was 9.57% and, in the last 12 months, above the 10.34% registered in the 12 previous months. November 2020 recorded a rate of 0.81%.

All the nine groups of products and services surveyed recorded price rises in October. Transportation accounted for the biggest change (2.89) and for the main contribution to the index (0.61 p.p.) It was followed by Housing (1.06%) and Health and personal care (0.80%), with impacts of 0.17 p.p. and 0.10 p.p., respectively. The three groups altogether accounted for 0.88 p.p. of the IPCA-15 in November, which is equivalent to about 75% of the monthly index. Wearing apparel (1,59%) (1.59%) represented the second biggest change in the month and Food and beverages (0.40%) decelerated from October (1.38%). The other groups stood between 0.01% Education and 1.53% de Household articles.

The result of Transportation (2.89%) was mainly influenced by the rise in gasoline prices (6.62%), main individual impact on the monthly index (0.40 p.p.). Fuel recorded an increase of 44.83% in the year and of 48.0% in 12 months. Prices of diesel (8.23%), ethanol (7.08%) and vehicle gasalso rose (2.59%).

In Transportation, prices of new cars (1.92%) and used cars (1.91%) remain on an upward trend as well as the prices of motorcycles (1.26%). The three subitems altogether account for 0.10 p.p of the November result. Another highlight was ride sharing apps (16.23%), which had risen 11.60% in the previous month. On the other hand, there was fall of prices of airfares (-6.34%), after two months os significant increases (28.76% in September and 34.35% in October).

In Housing (1.06%), the biggest contribution was that of bottled gas (4.34%), whose prices rose for the 18th month in a row, with a cumulative increase of 51.05% in the period that started in June 2020. Electricity (0.93%) recorded a smaller change than in October (3.91%) and had a share of 0.05 p.p of the monthly index. The “water scarcity” tariff flag has been in effect since September, adding R$14.2 to the light bill per 100 kWh consumed. Besides, prices rose in Goiânia (10.93%): an adjustment of 16.37%, from October 22 on; in Brasília (4.16%): an adjustment of 11.69%, starting on October 22; and in São Paulo (1.23%): an adjustment of 16.44% in obe of the concessionaries, in effect since October 23.

Also in Housing, the rise of bottled gas (0.88%) is a consequence of the 6.90% price adjustment of fares in Rio de Janeiro (2.78%), in effect since November 1st. The water and sewage fare (0.07%) also underwent a 9.86% adjustment in Rio de Janeiro (1.65%), from November 8 on. The fall of this subitem in Brasília (-1.22%) results from the portion not previously included in the 2.74% decrease of rates on June 1st.

The result of Health and personal care (0.80%) was influenced by the rise of personal hygiene items (1.65%) and pharmaceuticals (1.13%). In October, the former had recorded a negative change (-0.26%), and the latter was close to stability (0.02%).

Wearing apparel (1.59%) recorded the second biggest change in the month, with increases in all the items surveyed, with a highlight to female wear (2.05%), male wear (1.88%), and children’s wear (1.30%), besides footwear and accessories (1.28%). In the year, there has been cumulative increase of 8.64%, whereas, in the same period (from January to November), the cumulative index was of -1.31%.

Deceleration of Food and beverages (from 1.38% in October to 0.40% in November) was due to less significant increases in some subitems, such as tomato (14.02%), chicken pieces (3.07%) and cheese (2.88%). Meat (-1.15%), long-life milk (-3.97%) and fruits (-1.92%) also recorded decreases. On the other hand, the prices of potato (14.13%) rose above the rate of October (8.57%) and onion recorded a positive change (7.00%) after the decrease of 2.72% in the previous month.

A highlight in food away from home (0.15%), is the acceleration of meals (from 0.52% in October to 0.88% in November) and a decrease in the prices of snacks (-1.08%).

All the surveyed areas presentrecorded increase in November. Goiânia recorded the biggest change (1.86%), a result driven by electricity (10.93%) and by gasoline (5.87%). The lowest result was that of the metropolitan area of Belém (0.76%), with fall of prices of electricity (-2.05%) and acai berry (-9.30%).

In order to estimate IPCA-15, the prices collected from October 14 to November 12 (reference) were compared with the prices in force from September 15 to October 13, 2021 (base). The indicator refers to households 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, as well as Brasília and Goiânia. The methodology is the same as that of the IPCA; the difference lies in the period of price collection and in the geographic coverage.