The Extended National Consumer Price Index (IPCA) changed -0.29% in September, the third consecutive month of deflation. It was the lowest change for September since the beginning of the time series. In the year, the IPCA accumulated a rise of 4.09% and, in the last 12 months, of 7.17%, below the rate of 8.73% registered in the immediately previous 12 months. The monthly change had been 1.16% in September 2021.

Of the nine groups of products and services surveyed, four dropped in September. Although it retreated less than in the previous month (-3.37%), the group of Transportation (-1.98%) once again contributed with the most intense negative impact to the month´s IPCA: -0.41 percentage points (p.p.). It was followed by Communication (-2.08%) and Food and beverages (-0.51%), both with -0.11 p.p.

Having risen 0.42% in August, the group of Household articles declined 0.13% in September. On the rising side, the highlights were the groups of Wearing apparel (1.77%), with the highest positive change this month, and Personal expenses (0.95%), with the biggest positive contribution (0.10 p.p.). The other changes ranged between 0.12% in Education and 0.60% in Housing.

Transportation (-1.98%) dropped for the third month in a row. Like in the previous months, the result is a consequence of the reduction in the price of fuels (-8.50%). Gasoline (-8.33%) exerted the most intense negative impact on the September´s index (-0.42 p.p.). The other three fuel surveyed also had price drops: ethanol (-12.43%), diesel fuel (-4.57%) and vehicular gas (-0.23%). Although they had risen in the previous month, the retreat in the prices of motorcycles (-0.08%), new cars (-0.15%) and used cars (-0.38%) should be mentioned as well. In public transportation, the negative change of the sub-item urban bus (-0.34%) was due to the reduction in the prices of the Sunday fare in Salvador (-4.29%), in force since September 11.

Still in Transportation, the rise of 8.22% in airfare stood out, after dropping 12.07% in August. As a result, airfare exerted the greatest positive individual impact on the September´s index (0.05 p.p.) among 377 sub-items surveyed. In addition, ride sharing apps (6.14%) also increased, after falling 1.06% in August.

The retreat in the group of Communication (-2.08%) was leveraged by Internet access (-10.55%) and by telephony, Internet and pay TV (-2.70%). Together, the two sub-items contributed with -0.09 p.p. to the September´s IPCA.

The group of Food and beverages changed from a rise of 0.24% in August to a drop of 0.51% in September, pressed by food at home (-0.86%). The prices of long-life milk dropped 13.71%, contributing with -0.15 p.p. to the month´s figure. Despite the drop, the product still recorded a cumulative rate of 36.93% in the last 12 months. The reduction in the prices of soybean oil (-6.27%) also stood out, with an impact of -0.02 p.p. Among the rises, the greatest contribution (0.02 p.p.) came from onions (11.22%), which had risen 5.12% in August.

Food away from home (0.47%) decelerated in relation to the previous month (0.89%). Meals (0.34%) and snacks (0.74%) increased less than in August (0.84% and 0.86%, respectively).

The negative change of Household articles (-0.13%) was related with the drop in the item TV, sound and computers (-1.84%), caused by the reduction in the prices of TVs (-2.66%).

The highest positive change in the month´s index came from Wearing apparel (1.77%), which had already occurred in August (1.69%). All the items in that group rose in September, highlighted by women’s wearing apparel (2.03%), which contributed with 0.03 p.p. Men’s wearing apparel (1.82%), children´s wearing apparel (1.92%) and footwear and accessories (1.70%) also recorded changes above 1.50%.

The rise in the group of Personal expenses (0.95%) was leveraged by the increase in banking services (1.56%). Services related with tourism, like lodging (2.88%) and tourism package (2.30%) also increased, accumulating rises of 24.07% and 19.78% in 12 months, respectively.

The group of Housing was another highlight, by accelerating between August (0.10%) and September (0.60%), especially due to residential electricity, which rose 0.78%, after falling 1.27% in the previous month. In Vitória (4.95%), the tariffs per kWh were adjusted by 10.37% since August 7. In addition, the tariffs in Belém (3.54%) were also adjusted since August 7 as well.

Still in Housing, the rises in water and sewage fees (0.27%) and piped gas (0.11%) stood out. The former reflected the average adjustment of 13.18% in the fare in Vitória (13.01%). The adjustment, scheduled for August 1st, was hindered by a municipal decree, later suspended by a legal injunction. Therefore, the integral adjustment was included in the September´s index. In the second case, the rise of 0.11% was a consequence of the adjustments of 2.26% in Curitiba (0.77%), in force since August 9, and of the residual fraction of the adjustment of 0.20% applied in Rio de Janeiro (0.02%), in force since August 1st.

In regional terms, only one out of 16 areas reported a positive change in September. The rise in Vitória (0.17%) was leveraged by the changes in water and sewage fees (13.01%) and residential electricity (4.95%). The lowest figure was registered in the metropolitan area of Fortaleza (-0.65%), mainly due to the drop of 11.05% in the prices of gasoline.

In order to estimate the index of the month, the prices collected from August 30 to September 28, 2022 (reference) were compared with the prices in force from July 29 to August 29, 2022 (base). The IPCA has been calculated by the IBGE since 1980. It refers to households with monthly income of 1 to 40 minimum wages, whatever the source. It encompasses ten metropolitan areas in Brazil, besides the municipalities of Goiânia, Campo Grande, Rio Branco, São Luís, Aracaju and Brasília.

INPC drops 0.32% in September

The National Consumer Price Index (INPC) dropped 0.32% in September, a result very close to that reported in August (-0.31%). In the year, the INPC accumulated a rise of 4.32% and, in the last 12 months, of 7.19%, below the rate of 8.83% registered in the 12 immediately previous months. In September 2021, the rate had been 1.20%.

Food products changed from a rise of 0.26% in August to a drop of 0.51% in September. The prices of non-food products, in turn, continued to drop (-0.26%), though the retreat was lower than that of the previous month (-0.50%).

In the regional indexes, two out of 16 areas rose in September. The highest change was reported in Vitória (0.21%), pressed by the rises of 13.00% in water and sewage fees and of 5.01% in electricity. The lowest change was recorded in Porto Alegre (-0.66%), due to the drops of 9.04% in the prices of gasoline and of 17.94% in the prices of long-life milk.

In order to estimate the index of the month, the prices collected from August 30 to September 28, 2022 (reference) were compared with the prices in force from July 29 to August 29, 2022 (base). The INPC has been calculated by the IBGE since 1979. It refers to households with monthly income of 1 to 5 minimum wages, with a salaried head of the household. It encompasses ten metropolitan areas in Brazil, besides the municipalities of Goiânia, Campo Grande, Rio Branco, São Luís, Aracaju and Brasília.