The Extended National Consumer Price Index 15 (IPCA-15) changed 0.54% in March, having accelerated against the February rate (0.34%). That was the highest change for a month of March since 2015, when the index was 1.24%. IPCA-E, which is the cumulative IPCA-15 per quarter, was 1.18%, above the 0.87% recorded in the same period of 2018. In comparison with the last 12 months, the index was 4.18%, above the 3.73% registered in the previous 12 months. In March 2018, the rate was 0.10%.

Among the groups of products and services surveyed, only Household articles (-0.23%) and Communication (-0.19%) recorded deflation from February to March. With hikes, Food and beverages (1.28%) recorded the biggest change and impact, 0.32 percentage points (p.p.)over the month's IPCA. The group of Transportation, which had fallen by 0.46% in the previous month, rose 0.59%, thus accounting for 0.11 percentage points. Together, both groups made up about 80% of the monthly index. The other changes ranged between 0.06% for Wearing apparel and 0.38% for Health and personal care.

The group Food and beverages accelerated from February (0.64%) to March (1.28%) due to food at home, which rose 1.91%, against the 0.68% of the previous month. Pinto beans, which recorded a significant increase in February (34.56%), rose 41.44%, accounting for the major individual impact on the IPCA-15 of March (0.09 percentage points). In the case of potato, there was also acceleration over the month (from 12.39% to 25.59%), with 0.06 percentage points of impact. Tomato, after a decline in February (20.32%), rose 16.73%. Other important items in the basket of consumption of families, such as fruits (2.74%) and long-life milk (2.35%) also recorded increases in March.

Food away from home, which had risen 0.58% in the previous month, decelerated to 0.17%, with a highlight to the fall of meals (-0.23%), after a hike of 0.78% recorded in February.

In Transportation (0.59%), the two main impacts on the index of march came from airfares (7.54%) and ethanol (2.64%), bot with 0.03 percentage points. Gasoline (0.28%), after three consecutive months of increase, recorded a slight increase, accounting for 0.01 percentage points of the monthly index.  By metropolitan area, the changes ranged between a decrease of 1.15% in São Paulo and an increase of 5.92% in Fortaleza.

Also in Transportation, the highlight was the result of 0.73% for urban buses, asa a reult of the price adjustments in the fares in the following areas:

In the case of intercity buses (-0.27%), the negative change in March was influenced by the average reduction by 3.00% in bus rates in Rio de Janeiro (-2.21%), since February 11. In São Paulo, there was an average price adjustment of 6.00%, in effect since January 20. In Curitiba, the rise of 5.88%, initially expected for February 28, went into effect on March 2, due to a legal demand. 

The prices of train fares (1.35%) were adjusted in two metropolitan areas: Rio de Janeiro (5.51%), with an increase of 9.52% from February 2 on; and in Porto Alegre (2.73%), with an increase of 27.30%, in effect since March 13. 

Considering Housing (0.28%), electricity rose 0.43% in March, being slightly above the result of February (0.38%). Changes by metropolitan area ranged between an increase of 1.95% in Belo Horizonte to an increase of 1.96% in Recife. The change in piped gas (1.75%) resulted from the average adjustment of 11.00% in São Paulo (4.70%), in effect since February 1st. It is worth mentioning that, since March 1st, that change fell to 9.00%.

No grupo das Despesas Pessoais (0,22%), a queda de 0,51% no cigarro refletiu reduções ocorridas em determinadas marcas e áreas.

In Communication (-0.19%), the negative change in the month resulted from a fall of telephone appliance prices (-1.86%) and to landline telephone (-0.50%), due to the average decrease of 7.50% in landline telephone fares compared to mobile telephones, since February 25. The result of mailing (1.11%) reflects the adjustment of 13.90%, in effect since March 6, in one of the services of Rio de Janeiro (1.11%), the only area to record an increase in this item in IPCA-15.

Regarding indexes by area, except for Belo Horizonte, all the areas recorded an increase from February to March. the highest index was that of the metropolitan area of Fortaleza (0.92%), due to hikes in the prices of gas (5.92%). The lowest result came from the metropolitan area of Salvador (0.29%), influenced by the decrease in the price of new cars (-2.14%) and meats (-1.28%).

In order to estimate IPCA-15, the prices collected from February 13 to March 15, 2019 (reference) were compared with the ones in force from January 16 to February 12, 2019 (base). The indicator refers to families with monthly income of 1 to 40 minimum wages and it encompasses the metropolitan areas of Rio de Janeiro, Porto Alegre, Belo Horizonte, Recife, São Paulo, Belém, Fortaleza, Salvador, Curitiba, as well as Brasília and Goiânia. The methodology is the same as the one used for the IPCA; the difference lies in the period of price collection and in the geographic coverage.