The Extended National Consumer Price Index (IPCA) changed 0.46% in May and stood  0,08 percentage points above the April´s rate (0,38%).  The cumulative index in the year stayed at 2.27% and, in the last 12 months, at 3.93%, above the rate of 3.69% registered in the 12 immediately previous months. The change had been 0.23% in May 2023.

Of the nine groups of products and services surveyed, eight of them rose in May. The highest change came from Health and personal care, which rose 0.69% and contributed with 0.09 pp. The biggest impacts came from Food and beverages (0.62%) and Housing (0.67%), with 0.13 pp and 0.10 pp, respectively. The other groups stayed between -0.53% of Household articles and 0.50% of Wearing apparel.

In the group of Health and personal care (0.69%), the result was influenced by health insurance plans (0.77%) and by the items of personal hygiene (1.04%), highlighted by the rises in perfume (2.59%) and skincare products (2.26%)..

In Food and beverages (0.62%), food at home decelerated from 0.81% in April to 0.66% in May. Potatoes (20.61%), onions (7.94%), long-life milk (5.36%) and ground coffee (3.42%) rose.

Food away from home (0.50%) changed above the previous month (0.39%). While snacks accelerated from 0.44% to 0.78%, the sub-item meals (0.36%) registered a change close to that recorded in April (0.34%).

In the group of Housing (0.67%), the rise in residential electricity (0.94% and 0.04 pp) was influenced by fare adjustments in the following places: Salvador (3.67%), with and adjustment of 1.63% since April 22; Belo Horizonte (0.82%), of 676% since May 28; Campo Grande (-0.32%), of -1.17% since April 8; Recife (-1.42%), of -2.64% since April 29; Fortaleza (-1.63%), of -2.92% since April 22; and Aracaju (-1.69%), of 1.16% since April 22.

Still in Housing (0.67%), the rise in water and sewage fees (1.62%) was due to the following fare adjustments: of 6.94% in São Paulo (4.79%) since May 10; of 2.95% in Curitiba (1.33%) since May 17; and of 1.95% in Goiânia (0.17%) since April 1st. Piped gas (0.30%) rose 0.97% in Rio de Janeiro (0.97%) since May 1st.

In the group of Transportation (0.44%), airfare increased (5.91% and 0.03 pp). Concerning fuels (0.45%), only vehicular gas (-0.08%) dropped, whereas ethanol (0.53%), diesel fuel (0.51%) and gasoline (0.45%) rose their prices.

Still in Transportation,  the change in subway (1.21%) was due to the adjustment of 8.69% in Rio de Janeiro (3.45%), since April 12. In the sub-item taxi (0.55%), Recife (12.22%) registered an average adjustment of 17.64% since April 22.

In regional terms, only Goiânia (-0.06%) recorded a drop in the prices, due to the retreat in gasoline (-3.61%) and ethanol (-6.57%). The highest change occurred in Porto Alegre (0.87%), influenced by the rises in potatoes (23.94%), bottled gas (7.39%) and gasoline (1.80%).

In order to estimate the index of the month, the prices collected from May 1st to May 29, 2024(reference) were compared with the prices in force from March 29 to April 30, 2024 (base).  The indicator 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 rises 0.46% in May

The National Consumer Price Index (INPC) rose 0.46% in May, above the figure in the previous month (0.37%). In the year, the INPC accumulated a rise of 2.42% and, in the last 12 months, of 3.34%, above the rate of 3.23% recorded in the 12 immediately previous months. The rate had been 0.36% in May 2023.

Food products changed from 0.57% of change in April to 0.64% in May.  The change in non-food products was also higher: 0.40% in May against the rise of 0.31% in the previous month.

Concerning the regional indexes, the highest change occurred in Porto Alegre (0.95%), due to the rises in potatoes (23.94%), bottled gas (7.39%) and gasoline (1.80%). The lowest change was reported in Goiânia (0.03%), due to ethanol (-6.57%) and gasoline (-3.61%).

In order to estimate the index of the month, the prices collected from May 1st to May 29, 2024(reference) were compared with the prices in force from March 29 to April 30, 2024 (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.

IPCA/INPC data collection in Rio Grande do Sul

Due to the public disaster in the metropolitan area of Porto Alegre, an area included in the survey, remote price collection was improved and on-site collection remained whenever possible. The percentage collected remotely, either through telephone or Internet, which was around 20%, changed to nearly 65% due to the extraordinary situation noticed in May.

In order to estimate the IPCA/INPC, prices were collected from May 1 to May 29, 2024 (reference) and compared with those in effect from March 29 to April 30, 2024 (base). The information applicable to the May´s IPCA/INPC were validated based on the methodologies of price calculation, edition and imputation in force in the National System of Consumer Price Indexes (SNIPC).

Not all sub-items could be collected through telephone or Internet, as the case of some sub-items of the item "green vegetables." In the case of missing prices, data were imputed, a procedure described in the publication ""National System of Consumer Price Indexes: Calculation method - 8th edition", available on liv101767.pdf". In the case of sub-item "toll", toll stations in which charging was suspended during the reference period of the survey were not considered. Those that charged for some days in the reference month were pro rata collected, i.e., they were proportionally distributed along the reference period in the calculation of the inflation of this sub-item.

The Revision Policy of Data Released by IBGE Statistical Operations establishes that price indexes used as inflation indexers for the monetary adjustment of both public and private contracts are not revised to guarantee the legal security of the contracts. Included in this context are the data from the National Consumer Price Index (INPC), Extended National Consumer Price Index (IPCA), Extended National Consumer Price Index-15 (IPCA-15) and Special Extended National Consumer Price Index (IPCA-E). Access here the document "Revision Policy of Data Released by IBGE Statistical Operations."