The Extended National Consumer Price Index 15 (IPCA-15) changed by 1.23% in February 2025, 1.12 percentage points (p.p.) above the rate of January 2025 (0.11%). In the year, IPCA-15 had a cumulative increase of 1.34% and, in the last 12 months, it changed by 4.96%, above the 4.50% observed in the immediately previous 12 months. In February 2024, IPCA-15 stood at 0.78%.

Considering the nine groups surveyed, Housing (4.34%) accounted for the main impact (0.63 p.p.) on the monthly index, whereas Education recorded the biggest change (4.78% and an impact of 0.29 p.p.). The other changes stood between -0.08% (Wearing apparel) and 0.61% (Food and beverages). 

In the group Housing (4.34%), residential electricity was the subitem accounting for the main positive impact on the index (0.54 p.p.), having increased 16.33% in February, after a drop observed in January (-15.46%), due to the Itaipu bonus.

Also in Housing, the index of water and sewage rate (0.52%) results from the price adjustment of 6.42% in fares in Belo Horizonte (3.60%) and from the rise of 6.45% in fares of one of the concessionnaires in Porto Alegre (1.79%), in effect since January 1st. In the subitem piped gas (-0.32%), the change of 2.01% in Rio de Janeiro resulted from the positive adjustment of 4.71%, which started on January 1st, and from the average drop of 1.78% in fares, starting on February 01st; in Curitiba (-1.25%), fares fell by 3.01%, in effect since February 1st; and in São Paulo, the change of -1.41% reflects the full reduction of fares, in effect since December 2024.

In Education (4.78%), the biggest contribution came from regular courses (5.69%), due to price adjustments effected in the beginning of the school year. The biggest changes were found in elementary school (7.50%), in high school (7.26%) and in higher education (4.08%).

In the group Food and Beverages (0.61% and 0.14 p.p.), food at home increased by 0.63% in February, below the result of January (1.10%). The main positive changes were those of carrots (17.62%) and ground coffee (11.63%) and, from the perspective of drops, potato (-8.17%), rice (-1.49%) and fruits stood out (-1.18%).

Food away from home decelerated from 0.93% in January to 0.56% in February. Both meals (0.43%) and snacks (0.77%) recorded changes below those in the previous month (0.96% and 0.98%, respectively).

In the group Transportation (0.44% and 0.09 p.p.), fuels rose 1.88%. Prices rises were registered in ethanol (3.22%), diesel (2.42%) and gasoline (1.71%), whereas vehicle gas had a negative result of 0.41%. Airfares dropped by 20.42%.

Also in Transportation, the subitem urban buses changed by 5.20%. In Curitiba (-5.11%), since January 5, the modal fare has cost half the previous price and, in Fortaleza (0.46%), a social fare was adopted on December 2024. There were other adjustments in fares:

• São Paulo (14.68%): adjustment of 13.64% since January 6;
• Rio de Janeiro (6.34%): adjustmen of 9.30% since January 5;
• Belo Horizonte (5.31%): adjustment of 9.52% since January 1;
• Salvador (5.05%): adjustment of 7.69% since January 4;
• Recife (3.37%): adjustment of 4.87% since January 5;

Taxi fares (1.60%) also rose. In Salvador (4.79%), the entire price adjustment was incorporated on January 1st, and in Rio de Janeiro, rise amounted to 4.61%, as a result of the adjustment of 7.83%observed since January 2. In São Paulo, rises in train and subway were 2.97%, as a result of the adjustment of 4.00% in fares, effected on January 6. the change of 9.69% in public transportation connections, in São Paulo, is a result of the combination of the aforementioned adjustments and free fares granted to the population on New Year's Day (01/01) and on the anniverary of the city (25/01). In Rio de Janeiro there was a price adjustment of 7.04% in train (2.68%), starting on February 2. 

In February, IPCA-15 increased in eleven areas

As for regional indexes, the biggest change was that of Recife (1.49%), due to the expensive fares of residential electricity (14.78%) and gasoline (3.74%). The lowest result was that of Goiânia (0.99%), due to airfares (-26.67%) and rice (-2.67%).

To calculate IPCA-15, prices were collected from January 15 to February 12, 2025 (reference) and compared with those in effect from December 13 to January 14, 2025 (base). The indicator refers to families with incomes between 1 and 40 minimum wages and covers the Metropolitan Areas of Rio de Janeiro, Porto Alegre, Belo Horizonte, Recife, São Paulo, Belém, Fortaleza, Salvador and Curitiba, as well as Brasília and the city of Goiânia. The methodology used is the same as that used for the IPCA, the difference being the period of price collection and the geographic coverage.