The Extended National Consumer Price Index (IPCA) for January was 0.53% and was 0.09 percentage points below the December rate (0.62%). In the last 12 months, the IPCA has accumulated a rise of 5.77%, below the 5.79% observed in the previous 12 months. In January 2022, the change had been 0.54%.

Of the nine groups of products and services surveyed, only Wearing Apparel (-0.27%) had a negative change in January. The greatest impact on the index for the month came from Food and beverages (0.59%), which contributed with 0.13 pp. Next came the Transportation group, with an impact of 0.11 pp and an increase of 0.55%.

The biggest change came from Communication (2.09%), which accelerated in relation to the December result (0.50%). The result of Health and personal care, in turn, was 0.16%, below the one registered in the previous month (1.60%). The other areas were between the 0.33% for Housing and the 0.76% for Personal expenses.

In the group Food and beverages (0.59%), the change in food at home (0.60%) was below that registered in December (0.71%). If, on the one hand, there was an increase in the prices of potatoes (14.14%), tomatoes (3.89%), fruits (3.69%) and rice (3.13%), on the other, there was a decrease in important components, such as onions (-22.68%), chicken pieces (-1.63%) and meat (-0.47%).

In food away (0.57%), the biggest contribution (0.02 pp) came from snacks (1.04%). Meals, in turn, increased by 0.38%, above the previous month (0.19%). The prices of soft drinks and mineral water (0.81%) and beer (0.43%) also rose.

In Transportation (0.55%), fuels increased by 0.68%, driven by the increase in the prices of gasoline (0.83%) and ethanol (0.72%). On the other hand, diesel oil (-1.40%) and vehicle gas (-0.85%) fell in January. Other highlights were the subitems registration and license (1.60%), which for the first time incorporated the monthly share referring to the 2023 IPVA, and new cars (0.83%). On the downside, transportation prices for share driving services dropped 17.03%, after rising 10.67% in December.

Also in Transportation, it is worth mentioning the increase of 0.91% in urban buses, a consequence of the rises of 6.17% in Rio de Janeiro (4.20%), effective since January 7, and 7.04% in Vitória (4.61%), effective since January 8. There were also taxi price increases (3.03%) in Rio de Janeiro (7.74%), where fares rose 8.88%, as of January 1st, and in Salvador (15.67%), with an increase of 16.74%, in force since December 30th. It is also worth highlighting the increases in tolls (4.29%) in São Paulo (5.08%), Vitória (4.12%) and Curitiba (2.14%).

The result of Communication (2.09%) was driven by the increase in the subitems pay-TV (11.78%) and phone, TV and Internet bundles (3.24%), which jointly contributed with 0.09 pp to the January IPCA. The latter was responsible for the greatest individual impact on the index for the month (0.05 pp). There was also an increase in the prices of telephone devices (0.44%) and Internet access services (2.09%).

The deceleration of Health and personal care (from 1.60% in December to 0.16% in January) is due to the decrease of 1.26% in personal hygiene items. The prices of perfumes and make-up articles fell by 5.86% and 1.51%, respectively. The largest contribution in the group (0.04 pp) came from the health plans (1.21%), which continues to incorporate the monthly share of the rincreases of the new and old plans for the 2022 to 2023 cycle.

In the Housing group (0.33%), the highlight was the water and sewage fee (1.44%), due to rises that took place in three areas: Belo Horizonte (12.73%): Increase of 14.62 %, effective from January 1st; Brasília (8.29%): increase of 9.51%, effective since January 1st; and Campo Grande (5.56%): increase of 6.89%, in force since January 3rd.

It is also worth mentioning the increase in piped gas (4.10%), a result of increases of 7.92% in Rio de Janeiro, where tariffs were up by 9.00% on January 1st, and by 3.00% in São Paulo, where there was an increase of 10.90% as of December 10th and, subsequently, a reduction of 0.71% as of January 1st. Bottled gas prices fell by 1.19%.

Still in Housing, the change in electricity (0.19%) was close to that of the previous month (0.20%). The results of the areas ranged from the -4.76% in Brasília, where there was a reduction in PIS/COFINS, to the 8.07% in Salvador, where ICMS returned to the level of 27% as of January 1st. In Rio Branco, the 5.59% increase in the electricity bill is related to the annual increase of 14.48% in tariffs applied since December 13th.

The Wearing Apparel group (-0.27%) retreated again after 23 consecutive months of increases. The last drop had been -0.07%, in January 2021. Women's apparel (-1.37%) and, to a lesser extent, men's
(-0.11%) and children's apparel contributed to the month's result (-0.21%). The prices of footwear and accessories (0.73%), on the other hand, continued to rise, although this increase was less intense than that of the previous month (1.09%).

Fourteen of the sixteen areas were up in January. The smallest change was in Curitiba (-0.05%), due to the 3.92% drop in gasoline prices. The main result was in Salvador (1.09%), where increases in electricity (8.07%) and gasoline (6.34%) weighed.

To calculate the index for the month, prices collected from December 28, 2022 to January 27, 2023 (reference) were compared with those in effect from November 30 to December 27, 2022 (base). The IPCA has been calculated by the IBGE since 1980, it refers to families with income from 01 to 40 minimum wages, whatever the source, and covers ten Metropolitan Areas of the country, in addition to the municipalities of Goiânia, Campo Grande, Rio Branco, São Luís, Aracaju and Brasilia.

INPC rises by 0.46% in January

The National Consumer Price Index - INPC increased by 0.46% in January, below the rate registered in the previous month (0.69%). The INPC has accumulated an increase of 5.71% in the last 12 months, below the 5.93% observed in the previous 12 months. In January 2022, the rate had been 0.67%.

Food products increased from 0.74% in December to 0.52% in January. Non-food products (0.44%) followed a similar trend, decelerating in relation to the previous month (0.67%).

Only two areas had negative change in January. The lowest result was in Recife
(-0.08%), driven by falls in the prices of gasoline (-3.69%) and perfumes (-5.33%). The biggest change was registered in Salvador (0.95%), influenced by increases of 7.99% in electricity and 6.34% in gasoline.

To calculate the index for the month, prices collected between December 28, 2022 and January 27, 2023 (reference) were compared with prices in force in the period from November 30 to December 27, 2022 (base). The INPC has been calculated by the IBGE since 1979, and refers to families with income of 01 to 05 minimum wages, with the head being a salaried person, and covers ten Metropolitan Areas in the country, in addition to the municipalities of Goiânia, Campo Grande, Rio Branco, São Luís, Aracaju and Brasilia.