The Extended National Consumer Price Index 15 (IPCA-15) was 0.99% in February, 0.41 percentage points (pp) above the rate recorded in January (0.58%). It was the biggest change for a month of February since 2016 (1.42%). In the year, the IPCA-15 accumulates a high of 1.58% and, in 12 months, of 10.76%, which is above the 10.20% registered in the 12 previous months. In February 2021, the rate was 0.48%.

Of the nine groups of products and services surveyed, eight had positive changes. The exception was Health and personal care, whose prices retreated 0.02%, after a 0.93% high in January. Education accounted for the biggest change (5.64%) and for the major impact (0.32 pp). Next, came Food and beverage (1.20% and 0.25 pp), which accelerated in the comparison with the previous month (0.97%) and Transportation, which rose 0.87% after decrease of 0.41% in January and contributed to 0.19 pp in February. The other groups stood between the 0.15% of Housing and the 1.94% of Household articles.

In the group of Food and beverages (1,20%), food at home changed from 1.03% in January to 1.49% in February. The greatest impacts came from carrots (49.31%), potatoes (20.15%), ground coffee (2.71%), fruit (1.75%) and meat (1.11%). On the other hand, there were decreases in the prices of whole chicken (-1,97%), rice (-1.60%) and chicken pieces (-1.31%), whose prices had already decreased in the previous month (-0.48%, -2.99% and -0.25%, respectively). As to Education (5.64%), the greatest contribution came from regular courses (6.69%), with price rises in the beginning of the school year. The greatest changes came from primary education (8.03%), preschool education (7.55%), secondary education (7.46%), daycare (6.47%) and higher education (5.90%) Technical courses and Postgraduate courses rose 4.40% and 2.93%, respectively.

Food away from home (0.45%) also decelerated in relation to January (0.81%). Both meals (0.57%) and snacks (0.09%) recorded results below those of last month (0.63% and 1.25%, respectively).

The group of Transportation rose 0.87% over last month, mainly because of the highs in own vehicles (2.01%): new cars (2.64%), motorcycles (2.19%) and used cars (2.10%). In turn, fuels recorded stability in February (0.00%): whereas diesel fuel (3.78%) and gasoline (0.15%) increased, ethanol (0.15%) and vehicle gas (-0.36%) recorded decreased.

In Transportation,the positive change in the sub-item taxi cabs (1.99%) reflected the adjustment of 9.75% in the fares in Rio de Janeiro (5.66%), in effect since January 11. In urban bus (0.38%), there were average adjustment of 8.55% in Fortaleza (8.26%), on January 15.

The group of Housing (0.15%) decelerated in relation to the previous month (0.62%), mostly due to electricity (-0.82% and -0.04 pp), whose change had been 0.03% in January. The “water scarcity” tariff flag has been in effect since September, adding R$14.20 to the electricity bill per 100 kWh consumed. The changes of the areas comprise the interval from the -7.05% in Porto Alegre, where there was tax reduction in PIS/COFINS and ICMS, to the 1.39% in Goiânia, where there was tax increase in PIS/COFINS and in street lightning fees.

Also in Housing, the highlights are the highs in housing rent (1.00%) and condominium fees (0.87%). Water and sewage fees (0.33%0 also recorded high in February, a consequence of the 6,71% increases in Fortaleza (3.01%), on January 30 and of 8.98% in Goiânia (3.39%), on February 1.

In Household articles (1.94%), the highlights were the items household appliances and equipment (3.46%) and furniture (2.45%), whose prices rose above those of the previous month (2.26% and 2.04%, respectively). Both contributed together with 0.06 pp to February’s IPCA-15.

The drop in Health and personal care (-0.02%) is a a major consequence of the decrease in health insurance plans (-0.69%) and of the items of personal hygiene, whose prices fell 0.16 after a high of 3.79% seen in the January IPCA-15. Among the highs, the highlight is pharmaceuticals (0.65%).

As to the regional items, except for Porto Alegre (-0.11%), all surveyed areas had highs in February. The highest result occurred in the metropolitan area of São Paulo (1.20%), influenced by the highs of regular courses (6.39%) and of new cars (2.24%). In the metropolitan area of Porto Alegre (-0.11%), the result was leveraged by electricity (-7.05%) and gasoline (-4.89%).

In the group of Food and beverages (1,20%), food at home changed from 1.03% in January to 1.49% in February. The greatest impacts came from carrots (49.31%), potatoes (20.15%), ground coffee (2.71%), fruit (1.75%) and meat (1.11%). On the other hand, there were decreases in the prices of whole chicken (-1,97%), rice (-1.60%) and chicken pieces (-1.31%), whose prices had already decreased in the previous month (-0.48%, -2.99% and -0.25%, respectively). As to Education (5.64%), the greatest contribution came from regular courses (6.69%), with price rises in the beginning of the school year. The greatest changes came from primary education (8.03%), preschool education (7.55%), secondary education (7.46%), daycare (6.47%) and higher education (5.90%) Technical courses and Postgraduate courses rose 4.40% and 2.93%, respectively.

Food away from home (0.45%) also decelerated in relation to January (0.81%). Both meals (0.57%) and snacks (0.09%) recorded results below those of last month (0.63% and 1.25%, respectively).

The group of Transportation rose 0.87% over last month, mainly because of the highs in own vehicles (2.01%): new cars (2.64%), motorcycles (2.19%) and used cars (2.10%). In turn, fuels recorded stability in February (0.00%): whereas diesel fuel (3.78%) and gasoline (0.15%) increased, ethanol (0.15%) and vehicle gas (-0.36%) recorded decreased.

In Transportation,the positive change in the sub-item taxi cabs (1.99%) reflected the adjustment of 9.75% in the fares in Rio de Janeiro (5.66%), in effect since January 11. In urban bus (0.38%), there were average adjustment of 8.55% in Fortaleza (8.26%), on January 15.

The group of Housing (0.15%) decelerated in relation to the previous month (0.62%), mostly due to electricity (-0.82% and -0.04 pp), whose change had been 0.03% in January. The “water scarcity” tariff flag has been in effect since September, adding R$14.20 to the electricity bill per 100 kWh consumed. The changes of the areas comprise the interval from the -7.05% in Porto Alegre, where there was tax reduction in PIS/COFINS and ICMS, to the 1.39% in Goiânia, where there was tax increase in PIS/COFINS and in street lightning fees.

Also in Housing, the highlights are the highs in housing rent (1.00%) and condominium fees (0.87%). Water and sewage fees (0.33%0 also recorded high in February, a consequence of the 6,71% increases in Fortaleza (3.01%), on January 30 and of 8.98% in Goiânia (3.39%), on February 1.

In Household articles (1.94%), the highlights were the items household appliances and equipment (3.46%) and furniture (2.45%), whose prices rose above those of the previous month (2.26% and 2.04%, respectively). Both contributed together with 0.06 pp to February’s IPCA-15.

The drop in Health and personal care (-0,02%) is a a major consequence of the decrease in health insurance plans (-0.69%) and of the items of personal hygiene, whose prices fell 0.16 after a high of 3.79% seen in the January IPCA-15. Among the highs, the highlight is pharmaceuticals (0.65%).

As to the regional items, except for Porto Alegre (-0.11%), all surveyed areas had highs in February. The highest result occurred in the metropolitan area of São Paulo (1.20%), influenced by the highs of regular courses (6.39%) and of new cars (2.24%). In the metropolitan area of Porto Alegre (-0.11%), the result was leveraged by electricity (-7.05%) and gasoline (-4.89%).

In order to estimate the IPCA-15, prices were collected from January 14 to February 11 (reference) and compared with those in effect from December 14, 2021 to January 13, 2022 (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, besides Brasília and the municipality of Goiânia. The methodology is the same as the one used for the IPCA; the difference lies in the period of price collection and in the geographic coverage.