The Extended National Consumer Price Index (IPCA) of May changed by 0.26%, 0.17 percentage points (p.p.) below the rate of 0.43% recorded in April. The cumulative IPCA in the year is 2.75% and, in the last twelve months, 5.32%, below the 5.53% registered in the immediately previous 12 months. In May 2024, the change had been of 0.46%.

Of the nine groups of products and services surveyed, Housing showed the biggest change (1.19%) and accounted for the greatest impact (0.18 p.p.) on the May index, with the other groups of products and services surveyed recording changes between 0.54% for Health and personal care and 0.05% for Education. Transportation and Household articles recorded negative changes of 0.37% and 0.27%, respectively.

With the yellow tariff flag in force in May, adding R$1.885 to the electricity bill for every 100 KWh consumed, residential electricity (3.62%) accounted for the greatest individual impact on the monthly index (0.14 p.p.), standing out in Housing, which accelerated from 0.14% in April to 1.19% in May.

In addition, the following tariff adjustments were observed:Recife (7.16%), with an increase of 3.33% as of April 29; Fortaleza (6.57%), with a drop of 1.68% as of April 22; Aracaju (5.38%), with an increase of 6.99% as of April 22; Salvador (4.77%), with an increase of 2.07% as of April 22; Belo Horizonte (3.67%), with an increase of 7.36% as of May 28; and Campo Grande (1.73%), with an increase of 0.91% as of April 8.

Also in Housing, there was price adjustment in piped gas (0.25%) in Rio de Janeiro (0.77%) due to an average increase of 0.77% in tariffs from May 1st. As for the water and sewage (0.77%), the following adjustments were applied: 9.98% in Recife (8.19%) in effect since April 26th; 6.58% in Porto Alegre (2.91%) in effect since May 4th; 4.76% in Rio Branco (2.37%) since May 1st and 3.83% in Curitiba (1.72%) since May 17th.

As for Food and beverages, which accounted for the highest weight, there was deceleration from 0.82% in April to 0.17% in May, with food at home falling from 0.83% to 0.02%. Contributions to this result came from the drops in tomato (-13.52%), rice (-4.00%), chicken eggs (-3.98%) and fruits (-1.67%). The highlights with rising figures were potatoes (10.34%), onions (10.28%), ground coffee (4.59%) and meat (0.97%).

Food away from home increased by 0.58% in May, compared to 0.80% in April. Meals accelerated from 0.48% to 0.64% in May, and snacks, in turn, went from 1.38% in April to 0.51% in May.

As for Health and personal care, which decelerated from 1.18% in April to 0.54% in May, pharmaceuticals (0.69%), after the adjustment of up to 5.09% in medicine prices, starting on March 31, and health insurance (0.57%) stood out.

In Wearing apparel (0.41%), the increases in women's apparel (0.84%), men's apparel (0.10%) and footwear and accessories (0.10%) stand out.

Contributing to the deceleration of IPCA in May, Transportation group showed a decline of 0.37% and an impact of -0.08 p.p. This drop was driven by the result of airfare (-11.31%) and fuels (-0.72%), all of which recorded negative changes in May: diesel, 1.30%, ethanol, 0.91%, vehicle gas, 0.83%, and gasoline, 0.66%.

Also noteworthy is the 0.54% change in urban buses, due to the zero fare charged on Sundays and on holidays in Brasília (12.90%) and in Belém (2.15%), which had 15.00% adjustment in fares starting on April 14. In Curitiba (1.48%) there is a reduction in fares on Sundays and holidays. The subway (1.37%) applies the 5.33% fare adjustment in Rio de Janeiro (1.94%), starting April 12, and free rides on Sundays and holidays in Brasília (12.90%).

By Major Region, the biggest change (0.82%) occurred in Brasília due to the increase in residential electricity (9.43%) and gasoline (2.60%). The smallest variation occurred in Rio Branco (0.00%) due to the drop in chicken eggs (-9.09%) and rice (-6.26%).

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.

In order to estimate the index of the month, the prices collected from May 1st to May 29, 2025 (reference) were compared with those in force from April 1st to April 30, 2025 (base).

INPC records increase of 0.35% in May

The National Consumer Price Index (INPC) rose 0.35% in May. The cumulative figure in the year is 2.85% and, in the last 12 months, 5.20%, below the 5.32% observed in the previous 12 months. In May 2024, the index was 0.46%.

Food products decelerated from April (0.76%) to May (0.26%). The change in non-food products went from 0.39% in April to 0.38% in May.

As for regional indexes, the biggest change (1.24%) was found in Brasília due to residential electricity (9.30%) and urban buses (12.90%). The smallest change occurred in Rio Branco (0.09%) due to the drop in chicken eggs (-9.09%) and rice (-6.26%).

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 and encompasses ten metropolitan areas in Brazil, besides the municipalities of Goiânia, Campo Grande, Rio Branco, São Luís, Aracaju and Brasília.

In order to estimate the index of the month, the prices collected from May 1st to May 29, 2025 (reference) were compared with those in force from April 1st to April 30, 2025 (base).