The Extended National Consumer Price Index 15 (IPCA-15) increased by 0.44% in May, 0.23 percentage points (pp) above the rate recorded in April (0.21%). In the year, the IPCA-15 accumulated an increase of 2.12% and, in 12 months, of 3.70%, below the 3.77% observed in the previous 12 months. In May 2023, the rate was 0.51%.

Eight of the nine groups of products and services surveyed had positive results in May. The biggest changes came from Health and personal care (1.07% and 0.14 pp) and Transportation (0.77% and 0.16 pp). The other changes were between -0.44% for Household articles and 0.66% for Wearing apparel.

In Health and personal care (1.07%), the biggest contribution (0.07 p.p.) came from pharmaceutical products (2.06%), after the authorization of a price rise of up to 4.50% in medicine prices, on March 31st. The item personal hygiene increased from 0.29% in April to 0.87% in May, mainly influenced by perfume (1.98%).

In the Transportation group (0.77%), there was an increase in gasoline (1.90% and 0.09 pp) and airfare (6.04% and 0.04 pp). In relation to other fuels (2.10%), ethanol (4.70%) and diesel fuel (0.37%) increased; on the other hand, vehicle gas (-0.11%) recorded a drop in price.

Also in Transportation, the change in the subway (2.53%) was influenced by the 8.69% rise, on April 12, in Rio de Janeiro (7.45%). The increase in the taxi sub-item (0.73%) is due to the average increase of 17.64%, on April 22, in Recife (14.12%).

In the Food and beverages group (0.26%), food at home increased 0.22% in May. Contributing to this result were increases in onions (16.05%), ground coffee (2.78%) and long-life milk (1.94%). Among the declines, the highlights were carioca beans (-5.36%), fruits (-1.89%), rice (-1.25%) and meat (-0.72%).

Food away from home (0.37%) accelerated in relation to April (0.25%), due to the more intense increase in meals (0.07% in April to 0.34% in May). Snacks (0.47%) had a change equal to that recorded in the previous month.

In the Housing group (0.25%), the increase in water and sewage fees (0.51%) was influenced by increases of 6.94% in São Paulo (1.39%), on May 10, and 1.95% in Goiânia (1.01%), on April 1st. In residential electricity (0.17%), tariff rises were applied in the following areas: Salvador (3.26%), with an increase of 1.63%, in effect on April 22; Recife (-1.08%), with an increase of -2.64% on April 29th; and Fortaleza (-3.69%), with an increase of -2.92% on April 22nd.

As for regional indices, the eleven areas saw an increase in May. The biggest change was recorded in Salvador (0.87%), due to increases in gasoline (6.89%) and residential electricity (3.26%). The lowest result occurred in Rio de Janeiro (0.15%), which saw a drop in the prices of black beans (-10.38%) and meat (-1.56%).

To calculate the IPCA-15, prices were collected from April 16 to May 15, 2024 (reference period) and compared with those in force from March 15 to April 15, 2024 (base). The indicator refers to families with an income of 1 to 40 minimum wages and covers the Metropolitan Areas of Rio de Janeiro, Porto Alegre, Belo Horizonte, Recife, São Paulo, Belém, Fortaleza, Salvador and Curitiba, in addition to Brasília and the municipality of Goiânia. The methodology used is the same as that of the IPCA, the difference is in the price collection period and geographic coverage.

IPCA-15 collection in Rio Grande do Sul
Due to the public calamity situation in the Metropolitan Area of Porto Alegre, which is covered by the survey, remote price collection was intensified, with in-person collection applied when possible.

To calculate the IPCA-15, prices were collected from April 16 to May 15, 2024 (reference period) and compared with those in force from March 15 to April 15, 2024 (base). The appropriate information in May's IPCA-15 was validated based on the methodologies for calculating, editing and imputing the prices in force in the National System of Consumer Price Indexes (SNIPC).

In May, nearly 30% of the collection was carried out during the emergency situation remotely, by telephone or Internet, instead of in-person. It is worth noting that the collection calendar for the month of May started on April 16 and ended on May 15, and remote price collection was intensified from May 06 on, when approximately 70% of prices had already been collected. Even so, not all sub-items could be collected by telephone or over the Internet, as for instance some sub-items of the vegetable group. In cases of absence of prices, data was imputed, a procedure provided for and described in the publication “National System of Consumer Price Indexes: Calculation Methods - 8th edition, available at liv101767.pdf” (in Portuguese: “Sistema nacional de índices de preços ao consumidor: Métodos de cálculo - 8ª edição, disponível em liv101767.pdf").

The Revision Policy of Disclosed Data from the IBGE Statistical Operations establishes that the price indices used as inflation indexers in the monetary correction of public and private contracts be not revised, to guarantee the legal security of the contracts. In this context, data from the National Consumer Price Index - INPC, the Exended National Consumer Price Index - IPCA, the Extended National Consumer Price Index-15 - IPCA-15 and the Special Extended National Consumer Price Index are included - IPCA-E. You can have access to the document "Review Policy for Disclosed Data from IBGE Statistical Operations (Política de Revisão de Dados Divulgados das Operações Estatísticas do IBGE)" in Portuguese, here.