The Extended National Consumer Price Index 15 (IPCA-15) increased by 0.48% in February, being 0.30 percentage points (p.p.) below the January rate (0.78%). That is the highest result for a month of February since 2017, when the index reached 0.54%.

IPCA-15 had a cumulative increase of 1.26% in the year, and, in the last 12 months, a cumulative change of 4.57%, above the 4.30% relative to the previous 12 months. In February 2020, the rate was 0.22%.

Six of the nine groups of products and services surveyed recorded an increase in February, with the major impact (0.22 p.p.) coming from Transportation which accelerated in comparison with the January figure (0.14%). The biggest change came from Education (2.39%), which accounted for 0.15 p.p. to the month's result. The group Food and beverages decelerated, with a change from 1.53% in January to 0.56% in February, with an impact of 0.12 p.p.

Among falling results, a highlight was Housing (-0.74%), which had recorded an increase of 1.44% in the previous year. The other groups ranged between a 0.09% decrase in Communication and an increase of 1.01% in Household articles.

 In February, the group Transportation (1.11%) was affected by the rise in fuel prices (3.34%). The biggest individual impact on the monthly index (0.17 p.p.) was that from gasoline (3.52%), whose prices rose for the eighth month in a row. Prices of diesel (2.89%), ethanol (2.36%) andvehicle gas (0.61%) rose as well. 

Also regarding Transportation, other highlights were increases recorded by new cars (1.12%) and used cars (0.68%), and also motorcycles (1.41%). In the case of the subitem urban bus (0.08%), the positive change results from the price adjustment (8.70%) in the price of fares in Recife (1.45%), in effect since February 7.

On the other, falling prices were observed among app transportation (-9.16%) and airfares (-2.54%), with an overall impact of -0.03 p.p. 

In terms of Education (2.39%), the main contribution came from regular courses (2.97%). Besides price adjusments usually effected in the beginning of the school year, there was an interruption of price policies adopted by some teaching institutionms in 2020, due to the COVID-19 pandemic. The main changes came from pre-school (6.14%), primary school (4.71%) andhigh school (4.23%). Higher education and graduate studies recorded changes of 0.91% and 2.27%, respectively.  

InFood and beverages (0,56%), there was deceleration from the previous month (1.53%). Food at home went from 1.73% in January to 0.56% in February, due to the fall of prices of potato (-5.44%), long-life milk (-1.79%), soybean oil (-1.73%) and rice (-0.96%). As for rising figures, onion was a highlight, with a price rise of of 19.17%.

Food away from home also decelerated, and registered 0.56% in February (versus 1.02% in January). Snacks (1.20%) andmeals (0.37%) had changes below those in the preceding month, when they had risen 1.45% and 0.81%, respectively.

The main negative impact among the groups (-0.12 p.p.) camr from Housing (-0.74%), due to fall in fares of electricity (-4.24%). In the reference period for IPCA-15, the yellow tariff flag was in effect, adding R$ 1.343 to the electricity bill per every 100 kwh consumed. In the base period, the yellow tariff flag (in the first half of January) and the red tariff flag - level 2 (in the second half of December) were in effect. In the latter the extra charge is of R$ 6.243.  

Also in Housing, the highlight is the incrase of 3.18% for bottled gas, which accounted for 0.04 p.p. of the monthly result. Other items with positive changes were bottled gas (1.19%) and water and sewage rate (0.45%).  

As for bottled gas foram verificados reajustes nas sprice adjustments were observed in the following areas: São Paulo (0.78%): average adjustment of 0.79%, in effect since January 15th; Rio de Janeiro (1.37%): a price adjustment of 3.50%, in effect since February 01st; Curitiba (3,18%): a rise of 8.07%, in effect since February 01st. 

Considering water and sewage fares, price adjustments took place in the following areas: Recife (1.51%): a 2.40% adjustment, in effect since January 3; Fortaleza (6.12%): a 12.25% rise, in effect since January 29; and Curitiba (1.28%): a 5.11% change, in effect since February 5.  

As for regional indexes, except for Goiânia (-0.03%), all the areas surveyed recorded positive changes in February. The highest result was that of the metropolitan area of Fortaleza (0.95%), mainly due to rises in regular courses (8.86%). In that capital, the index was mainly affected by the fall of electricity (-4.88%). 

For the IPCA-15 calculation, prices were collected between January 15 and February 11, 2021 (reference) and compared to those in effect between December 12 and January 14, 2021 (base). The indicator refers to families with income from 1 to 40 minimum wages and covers the Metropolitan Areas of Rio de Janeiro, Porto Alegre, Belo Horizonte, Recife, São Paulo, Belém, Fortaleza, Salvador and Curitiba, in addition to Brasília and the city ​​of Goiânia. The methodology used is the same as that of the IPCA, the difference lies in the period of price collection and in the geographic coverage.