The Extended National Consumer Price Index (IPCA) for January was 0.42% and was 0.14 percentage points below the December rate (0.56%). In the last 12 months, the IPCA accumulated an increase of 4.51%, below the 4.62% observed in the previous 12 months. In January 2023, the change had been 0.53%.  

Of the nine groups of products and services surveyed, seven increased in January. The biggest change (1.38%) and the biggest impact (0.29 pp) came from the Food and beverages group, which accelerated in relation to the December result (1.11%). Next, the increase in Health and personal care stands out (0.83% and 0.11 pp).

In turn, the Transportation group recorded a drop in the January index (-0.65% and -0.14 pp). The other groups ranged between -0.08% for Communication and 0.82% for Personal expenses.

The Food and beverages group registered an increase of 1.38% in January, after rising 1.11% in December. Food at home rose 1.81%, influenced by increases in carrots (43.85%), potatoes (29.45%), carioca beans (9.70%), rice (6.39 %) and fruits (5.07%).

Food away from home (0.25%) slowed down compared to the previous month (0.53%). Both snacks (0.32%) and meals (0.17%) had less intense increases than those recorded in December (0.74% and 0.48%, respectively).

In Health and personal care (0.83%), personal hygiene items rose 0.94%, influenced by increases in skincare products (2.64%) and perfume (1.46%). Health insurance plans (0.76%) and pharmaceutical products (0.70%) also registered an increase in January.

In the Housing group (0.25%), the result for residential electricity (-0.64%) was influenced by the incorporation of changes in ICMS rates in Recife (1.79%), Fortaleza (-0.27%) and Salvador (-9.11%), as of January 1st, as well as the incorporation of the 13.00% increase in tariffs in Rio Branco (5.00%), as of December 13th.

Still in Housing, the increase in water and sewage fees (0.83%) was influenced by tariff increases in the following areas covered by the survey: 31.75% in São Luís (25.61%), from January 5th; average increase of 4.21% in Belo Horizonte (5.55%), as of January 1st, and 4.18% in Campo Grande (3.65%), as of January 3rd. In piped gas (0.22%), the following tariff increases were incorporated: 3.30% in São Paulo (2.27%), from December 10th; average reduction of 0.45% in Rio de Janeiro (-0.46%) from January 1st; and a reduction of 6.82% in Curitiba (-6.38%), also from January 1st.

In the Transportation group (-0.65% and -0.14 pp), there was a drop in airfare, the subitem with the greatest individual impact on the month's index (-15.22% and -0.15 p.p.). In relation to fuels (-0.39%), there was a decline in the prices of ethanol (-1.55%), diesel fuel (-1.00%) and gasoline (-0.31%), while vehicle gas (5.86%) registered an increase. The taxi subitem increased by 1.25% due to increases, from January 1st, of 4.21% in Rio de Janeiro (3.95%) and 4.61% in Salvador (4.31%) .

Still in Transportation, the change in urban buses (-0.92%) was influenced by the average increase of 16.67% in Belo Horizonte (15.89%), as of December 29th; in Vitória (2.27%), increase of 4.53%, as of January 14th; and in São Paulo (-13.66%), due to the incorporation of free pass on Sundays and on some commemorative dates, from December 17th. Still in São Paulo, there was a 13.64% increase in train (12.73%) and subway (12.73%) fares as of January 1st. Due to the information mentioned, public transportation integration fell 6.34% in this area.

When analyzing the areas investigated by the survey, only Brasília (-0.36%) had a negative change in January, influenced by the drop in airfare (-21.31%). The biggest change was recorded in Belo Horizonte (1.10%), due to the increase in urban buses (15.89%).

To calculate the index for the month, the prices collected in the period from December 30, 2023 to January 29, 2024 (reference) were compared with those in force in the period from December 1 to December 29, 2023 (base). The IPCA has been calculated by IBGE since 1980, it refers to families with a monetary income of 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 Brasília.

INPC increases 0.57% in January

The National Consumer Price Index - INPC increased by 0.57% in January, 0.02 pp above the result observed in December (0.55%). The INPC has accumulated an increase of 3.82% in the last 12 months, above the 3.71% observed in the previous 12 months. In January 2023, the rate was 0.46%.

Food products changed from 1.20% in December to 1.51% in January. The change in non-food items was lower: 0.27% in January compared to the increase of 0.35% in the previous month.

In regional terms, only Brasília (-0.08%) had a negative change in January, influenced by the drop in airfare prices (-21.31%). The biggest change occurred in Belo Horizonte (1.54%), driven by increases in potatoes  (41.62%) and urban buses (15.89%).

To calculate the index for the month, the prices collected in the period from December 30, 2023 to January 29, 2024 (reference) were compared with the prices in force in the period from December 1 to December 29, 2023 (base). The INPC has been calculated by IBGE since 1979, it refers to families with a monetary income of 1 to 5 minimum wages, with the head being a salaried employed person, and it covers ten Metropolitan Areas of the country, in addition to the municipalities of Goiânia, Campo Grande, Rio Branco, São Luís, Aracaju and Brasília.