The Extended National Consumer Price Index (IPCA) was 0.84% in February, standing 0.31 percentage points (p.p.) above the January´s rate (0.53%). In the year, the IPCA accumulated a rise of 1.37% and, in the last 12 months, of 5.60%, below the rate of 5.77% registered in the previous 12 months. In February 2022, the change had been 1.01%.

Eight of the nine groups of products and services surveyed recorded increases in February.  The exception was Wearing apparel (-0.24%), which dropped for the second month in a row. The biggest impact (0.35 p.p.) and the highest change (6.28%) on the month´s index came from Education. It was followed by Health and personal care (1.26%) and Housing (0.82%), which accelerated in relation to January, contributing with 0.16 p.p. and 0.13 p.p., respectively. On the other hand, Transportation (0.37%) and Food and beverages (0.16%) recorded lower changes than those in the previous month. The other groups stood between 0.11% of Household articles and 0.98% of Communication.

The rise of 6.28% in Education reflected the adjustments usually practices in the beginning of the school year. Regular courses rose 7.58%, leveraged by the rises in secondary education (10.28%), primary education (10.06%), preschool education (9.58%) and daycare (7.20%). The sub-item primary education exerted the biggest individual impact on the month´s index (0.15 p.p.). The rises in higher education (5.22%), technical courses (4.11%) and postgraduate courses (3.44%) stood out as well.

The result of the group of Health and personal care (1.26%) was mainly influenced by the rise of 2,80% in the items of personal hygiene. After the drop of 5.86% reported in January, toiletries rose 7.50% and contributed with 0.08 p.p. to the month´s index. In addition, the prices of skincare products rose 4.54%, impacting 0.02 p.p. on the February´s IPCA. Health insurance plans (1.20%) impacted as well, as they continued to incorporate the monthly fractions of new and old plans related to the 2022-2023 cycle.

In the group of Housing (0.82%), the major contribution (0.05 p.p.) came from residential electricity (1.37%). The changes in the areas varied from -2.04% in Rio Branco, where PIS/COFINS reduced, to 6.98% in Belo Horizonte, where the tariffs of the transmission (TUST) and distribution (TUSD) systems were reintroduced in the calculation basis of the ICMS, as in other areas like Curitiba (5.94%) and Vitória (4.98%).

The second biggest contribution came from residential rent, which rose 0.88% and impacted 0.03 p.p. Water and sewage fees was another highlight, whose rise of 0.87% was due to adjustments in the following areas: Salvador (11.08%), an adjustment of 11.81% in force since January 30; Fortaleza (3.54%), an adjustment of 3.54% since January 28; Belo Horizonte (1.67%), an adjustment of 14.62% since January 1st; Campo Grande (1.27%), an adjustment of 6.89% since January 3; and Brasília (1.13%), an adjustment of 9.51% since January 1st.

Still in Housing, the rise in piped gas (1.04%) was due to the adjustment in the tariffs and to the change in the way of charging in Curitiba (11.67%), which resulted in an increase of 13.34% in the bills since February 1st. In the same date, the tariffs reduced 2.86% in Rio de Janeiro (-1.44%), as well as a residual change of -0.09% was computed to São Paulo, where an average reduction of 0.71% was registered for piped gas on January 1st.

In Transportation (0.37%), the biggest contribution (0.05 p.p.) came from gasoline (1.16%), the only fuel that rose in February. Ethanol (-1.03%), vehicular gas (-2.41%) and diesel fuel (-3.25%) recorded drops above 1%. Having retreated 9.38%, airfare also stood out, contributing to the deceleration of that group over January (0.55%).

Still in Transportation, the urban bus fares (0.47%) were adjusted in three areas: Rio de Janeiro (1.90%), where they were adjusted by 6.17% on January 7; Vitória (2.32%), where the adjustment of 7.04% was applied on January 8; and São Luís (2.31%), where the fare rose 7.69% since February 19.

In addition, taxi fares (0.86%) were adjusted in three areas: Rio de Janeiro (1.06%), where the adjustment of 8.88% came into force on January 1st; Belo Horizonte (5.80%), where the prices rose 11.54% since February 13; and Salvador (0.92%), where the tariffs were adjusted by 16.74% on December 30.  

It should also be registered the rise of 11.81% in the sub-item train, which reflected the adjustment occurred in the metropolitan area of Rio de Janeiro (30%), where the tariffs were adjusted by 48% on February 9. On the other hand, the rise in toll (0.83%) was a consequence of the adjustments in the toll stations in Porto Alegre (14.65%) and Vitória (3.50%).  

The result of the group of Food and beverages was influenced by the deceleration of food at home, which changed from 0.60% in January to 0.04% in February. The prices of meat (-1.22%) registered a more intense drop and the prices of potatoes (-11.57%) and tomatoes (-9.81%) retreated, though they had risen in January (14.14% and 3.89%, respectively). Long-life milk (4.62%) stood out, whose prices returned to rise after six consecutive months of drops.  

The change in food away from home (0.50%) stood next to that of the previous month (0.57%). While meals (0.38%) changes the same as in January, snacks decelerated from 1.04% to 0.57%.  

As the only group to change negatively in February, Wearing apparel (-0.24%) was leveraged by the drops in men’s wearing apparel (-0.58%), women´s wearing apparel (-0.45%) and jewels (-0.72%).  

All the areas rose in February. The highest change was in Curitiba (1.09%), due to the rises in regular courses (5.97%), gasoline (3.37%) and residential electricity (5.94%). The lowest change was recorded in Rio Branco (0.44%), where residential electricity dropped 2,04%.

In order to measure the index of the month the prices collected from January 28 to February 28, 2023 (reference) were compared with the ones in effect from December 28, 2022 to January 27, 2023 (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 and encompasses ten metropolitan areas in Brazil, besides the municipalities of Goiânia, Campo Grande, Rio Branco, São Luís, Aracaju and Brasília. 

INPC rises 0.77% in February

The National Consumer Price Index (INPC) rose 0.77% in February, above the figure in the previous month (0.46%). In the year, the INPC accumulated a rise of 1.23% and, in the last 12 months, of 5.47%, below the rate of 5.71% registered in the 12 immediately previous months. In February 2022, the rate had been 1.00%. 

Food products decelerated from 0.52% in January to 0.04% in February. Non-food products registered the reverse: in February, it recorded a rise of 1.01% over the result of 0.44% reported in January.  

All the areas registered a positive change in February. The lowest figure was registered in Brasília (0.34%), influenced by the drops in the prices of gasoline (-2.43%) and airfare (-10.06%). The highest change, in turn, occurred in Curitiba (1.02%), leveraged by the rises of 6.22% in residential electricity and of 3.37% in gasoline.

In order to measure the index of the month the prices collected from January 28 to February 28, 2023 (reference) were compared with the ones in effect from December 28, 2022 to January 27, 2023 (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.

Keywords: IPCA - Índice Nacional de Preços ao Consumidor Amplo