The Extended National Consumer Price Index (IPCA) of December increased by 0.33%, 0.15 percentage points (p.p.) above the rate of 0.18% recorded in November. In December 2024, the change was 0.52%.

The IPCA closed the year 2025 with a cumulative increase of 4.26%.

Except for Housing, with a decrease of 0.33%, all the other groups of products and services surveyed recorded an increase in December. The biggest change  (0.74%) and the main impact (0.15 p.p.) came from Transportation, followed, in terms of impact, by Health and personal care, with an increase of 0.52% and 0.07 p.p. The group Household articles (0.64%) recorded the second biggest change in December, after a drop of 1.00% in November.

IPCA - Change and Impact by group - monthly

In Transportation (0.74%), the result was influenced by the rise in prices of ride-sharing services (13.79%) and airfares (12.61%), the sub-item accounting for the greatest individual impact on the month's result (0.08 percentage points). Fuels, after decreasing 0.32% in November, increased 0.45%, with the following changes: ethanol (2.83%), vehicle gas (0.22%), gasoline (0.18%), and diesel oil (-0.27%).

Also in Transportation, the change of -2.63% in urban bus fares considers the free fares granted on Sundays and/or holidays in Belém (5.64%), Brasília (1.84%), São Paulo (-6.06%), and Belo Horizonte (-12.87%), in addition to the fare reduction in Curitiba (0.74%). Subway (4.11%) recorded the same movement in in Brasília (1.84%) and, in São Paulo, an increase of 7.22%, also registered by train (3.77%), in addition to the 1.01% in the public transportation integration sub-item, consider exemption from paying for fares on the days of the ENEM exams (November 9th and 16th) and on Christmas Day.

In Household articles, the 0.64% increase reflects changes in TV, sound and computer equipment (1.97%) and electronic appliances (0.81%), which had fallen by 2.28% and 2.37%, respectively, in the previous month.

In Health and personal care (0.52%), the highlights are health insurance plans (0.49%) and personal hygiene items (0.52%).

In Personal expenses, which decelerated from 0.77% in November to 0.36% in December, the notable changes are in hairdresser and barber's services (1.28%) and domestic workers (0.48%), in addition to a 3.10% reduction in lodging, which had risen 4.09% in November.

Food and beverages registered an increase of 0.27% in December. Food at home interrupted a six-month sequence of consecutive drops, rising 0.14%, influenced by increases in onion (12.01%); potato (7.65%); meat (1.48%), especially sirloin (2.39%), rump steak (1.99%), and ribs (1.89%); and fruits (1.26%), particularly papaya (7.85%) and chunkey bananas (4.32%). On the downside, the most significant decreases were in long-life milk (-6.42%), tomato (-3.95%), and rice (-2.04%).

Food away from home (0.60%) accelerated from the previous month (0.46%), with a 1.50% increase in snacks and a 0.23% increase in meals. 

The only group with a negative change in December, Housing went from a 0.52% increase in November to -0.33% in December, influenced by the 2.41% drop in residential electricity, the sub-item with the greatest negative impact on the index (-0.10 p.p.).

This result was driven by the yellow tariff flag being in effect in December, with an additional charge of R$ 1.885 for every 100 kWh consumed. In November, the red tariff flag level 1 was in effect, and added R$ 4.46 for the same level of consumption. There was a 21.95% adjustment in one of the concessionaires in Porto Alegre (3.90%) in effect since November 22 and a 10.48% adjustment in Rio Branco (3.80%), in effect since December 13.

Also in Housing, the increase in water and sewage fare (0.96%) was influenced by the 9.75% adjustment in Rio de Janeiro (9.13%), in effect since December 1st; 2.64% in Curitiba (1.28%) since December 15th; and 9.75% in Fortaleza (1.81%), since November 5th. Piped gas sub-item (1.80%) reflects the 4.10% adjustment in São Paulo (3.27%) starting on December 10th, and the 0.04% reduction in fares iin Rio de Janeiro (-0.01%), since November 1st.

Regarding regional indices, the biggest change occurred in Porto Alegre (0.63%), influenced by the increase in residential electricity (3.90%) and ride sharing apps (17.75%). The smallest change occurred in São Luís (-0.19%), due to the decrease in residential electricity (-4.83%) and fruits (-6.01%).

IPCA - Change by area - monthly and cumulative in the year

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 November 29, 2025 to December 29, 2025 (reference) were compared with the prices in force from October 30, 2025 to November 28, 2025 (base).

INPC reaches 0.21% in December

The National Consumer Price Index (INPC) rose 0.21% in December, being 0.18 percentage points above the result observed in November (0.03%). The rate for December 2024 was 0.48%.

Food products accelerated from November (-0.06%) to December (0.28%). The change in non-food products went from 0.06% in November to 0.19% in December.

As for regional indices, the biggest change occurred in Porto Alegre (0.57%), influenced by the increase in residential electricity (3.87%) and meat (2.04%). The smallest change occurred in Curitiba (-0.22%), due to the rise in residential electricity (-3.23%) and fruits (-4.82%).

Regarding regional indices, the largest variation occurred in Porto Alegre (0.57%), influenced by the increase in residential electricity (3.87%) and meat (2.04%). The smallest variation occurred in Curitiba (-0.22%), due to the decrease in residential electricity (-3.23%) and fruits (-4.82%).

INPC - Change by area - monthly and cumulative in the year

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.

In order to estimate the index of the month, the prices collected from November 29, 2025 to December 29, 2025 (reference) were compared with the prices in force from October 30, 2025 to November 28, 2025 (base).

IPCA records a cumulative increase of 4.26% in 2025

The IPCA closed the year with a change of 4.26%, 0.57 p.p. below the 4.83% registered in 2024. In the table below, we can observe monthly changes of the index in 2025:

The 2025 result was mainly influenced by Housing (6.79%), which had the greatest impact (1.02 p.p.) on the year-to-date total. This was followed by Education (6.22%), Personal expenses (5.87%), and Health and Personal care (5.59%). These four groups together accounted for approximately 64% of the year's result.

IPCA - Change and impact by group - in the year

Residential electricity (12.31%), within the Housing group (6.79%), was the sub-item responsible for the main impact on the year's result (0.48 p.p.), with tariff adjustments ranging from -2.16% to 21.95%. The Itaipu Bonus was incorporated in January and August, and all tariff flags were in effect throughout the year: 

• Green flag (no tariff charged): January to April.
• Yellow flag (additional charge of R$ 1.885 per 100 kWh): May and December.
• Red flag level 1 (additional charge of R$ 4.46 per 100 kWh): June, July, October, and November.
• Red flag level 2 (additional charge of R$ 7.87 per 100 kWh): August and September.

Change in residential electricity in the year, by area surveyed

Also concerning Housing, it is worth highlighting the main positive contributions that came from residential rent (6.06% and 0.22 p.p.), condominium fees (5.14% and 0.12 p.p.), and water and sewage fares (4.50% and 0.08 p.p.).

The Education group (6.22%) showed the second highest accumulated change in 2025 among the groups of products and services surveyed, influenced by the increases in regular courses (6.54% and 0.29 p.p.) and other courses (5.67% and 0.05 p.p.). 

Personal expenses changed by 5.87% in 2025 with a highlight to domestic workers (5.36% and 0.15 p.p.), hairdresser's and barber's services (8.05% and 0.09 p.p.), gambling (15.17% and 0.07 p.p.) and lodging (9.61% and 0.06 p.p.).

As for Health and personal care (5.59%), the main contribution (0.26 p.p.) came from health insurance plans (6.42%). In July, the National Supplementary Health Agency (ANS) set the ceiling for adjustment of new individual plans (after Law No. 9,656/98) at 6.06% for the period from May 2025 to April 2026. For older plans, the percentages were 6.47% and 7.16%, depending on the plan. Also noteworthy are the increases of 5.42% in pharmaceuticals – on March 31, 2025, the adjustment of up to 5.09% in drug prices came into effect – and 4.23% in personal hygiene items.  

In Transportation (3.07%), the highlights are the increase in ride-sharing services (56.08% and 0.13 percentage points), car repairs (6.94% and 0.12 percentage points), and gasoline (1.85% and 0.10 percentage points).

Food and beverages group slowed down from 2024 (7.69%) with 2025 (2.95%), especially due to food at home, which rose 8.23% in 2024 and now registered an increase of 1.43%. For six consecutive months (June to November), food at home registered a negative change, with a cumulative a drop of 2.69%. In the other months, the cumulative increase was 4.23%.

The main influences on the result of Food and beverages came from: ground coffee (35.65% and 0.18 p.p.), which in July 2025 interrupted the sequence of increases that began in January 2024; chocolate bars and chocolate candies (27.12% and 0.06 p.p.); and bread roll (5.86% and 0.05 p.p.). On the downside, the most notable declines were in rice (-26.56% and -0.20 p.p.) and long-life milk (-12.87% and -0.10 p.p.).

Food away from home increased from 6.29% in 2024 to 6.97% in 2025, with snacks showing the most significant increase (11.35%) and a 0.21 percentage point impact, followed by meals (4.97%) and a 0.18 percentage point impact.

As for regional indexes, Vitória (4.99%) showed the greatest variation in 2025, mainly influenced by increases in residential electricity (17.48%) and health insurance (6.33%). The lowest result, in turn, occurred in Campo Grande (3.14%), notably due to decreases in rice (-31.01%), fruits (-10.83%), and meats (-2.94%).

IPCA - Change bt area - in the year - 2024 and 2025

INPC closes 2025 at 3.90%

The cumulative increase in the INPC (National Consumer Price Index) in 2025 was 3.90%, 0.87 percentage points below the 4.77% recorded in 2024, with food products registering an increase of 2.63%, while non-food products changed by 4.32%. In 2024, the changes were 7.60% and 3.88%, respectively.  

INPC - Change anf Impact by group - in the year

As for regional indices, the biggest change was recorded in Vitória (4.82%), especially due to increases in residential electricity (17.65%) and residential rent (9.06%). The smallest change occurred in Campo Grande (2.78%), whose result was influenced by the decrease in prices of rice (-31.01%), fruits (-9.56%) and meat (-3.00%).

INPC - Variação por regiões - no ano - 2023 e 2024