The Extended National Consumer Price Index -15 (IPCA-15) reached 0.58% in January, being 0.20 percentage points (pp) below the December rate (0.78%). The cumulative index over the last 12 months stayed at 10.20%, below the 10.42% recorded in the previous 12 months. The rate had been 0.78% in January 2021.

Eight of the nine groups of products and services surveyed recorded price rises in January. The exceptions were Transportation, whose prices fell 0.41%, after a 2.31% high in December. The highest impact on the monthly index (0.20 pp) came from Food and Beverages (0.97%), which accelerated over the previous month (0.35%) It was followed by  Housing (0.90%) and Food and beverages (0.35%), which accounted for 0.15 pp. and 0.07 pp., respectively. Conversely, the highest changes were in Wearing apparel (1.48%) and Household articles (1.40%).

The other groups stood between 0.25% in Education and 1.09% in Communication.

The retreat in Transportation (-0.41%) is mainly due to the price fall in gasoline (-1.78%) and airfare (-18.21%). The two sub items contributed with -0.12 pp each to January IPCA-15. In addition, ethanol (-3.89%) and vehicle gas (-0.26%) also had negative changes in the period. Among the highs, the highlights were new cars (1.90%) and plates and licenses (1.70%), the latter added for the first time the monthly share relative to the IPVA (vehicle tax) of 2022.

In Transportation, there were also highs in voluntary excess (3.25%) and in car rental (12.94%). The positive change in taxi cabs (0.21%) reflected the adjustment of 9.75% in the fares in Rio de Janeiro (0.94%), in effect since January 11th.

In the group of Food and beverages (0.97%), food at home changed from 0.46% in December to 1,03% in January. The greatest impacts came from onions (17.09%), fruit (7.10%), ground coffee (6.50%) and meat (1.15%). On the other hand, there were decreases in the prices of potatoes (-9.20%), rice (-2.99%) and long-life milk (-1.70%), which had their prices already decreased in the previous month, (-6.46%, -2.46% and -3.75%, respectively).

Food away (0.81%) also accelerated in relation to December (0.08%). Snacks went from decrease of 3.47% to high of 1.25%, whereas meals stood with 0.63% of high, below the previous month’s result (1.62%).

In Health and personal care (0.93%), the highlight were the personal personal hygiene items, whose prices went up 3.79% after falling 3.34% in December. Among the falls, health insurance plans retreated 0.69%. In December, the last monthly share of the annual increase, which had been suspended in 2020, being applied as of January 2021, was added. As a result, just the share relative to the negative adjustment of -8.19% was left, as announced by the National Agency of Supplementary Health (ANS) last year and in effect after the July IPCA-15.

In Housing (0.62%), the greatest impact (0.06 pp) was in housing rent, with a high of 1.55%.  In addition, it is worth mentioning the change of piped gas (8.40%), as a consequence of the increase of 17,64% in São Paulo (15.03%) in effect since December 10.

Electricity, sub item with the greatest weight in the group, had a change of 0.03, decelerating over December (0.96%). The results by areas were from the -1.60% in Goiânia to the 2.14% in Porto Alegre, where there was increase of 14.70% in the fees of one of the concessionaires, in force on November 22. There were also increase in the contribution to street lights in São Paulo (0.11%), Brasília (0.98%) and Curitiba (-0.65%), all in effect as of January 1st. The positive change of water and sewage fees (0.28%) is due to the 9.05% increase taken place in Salvador (4.45%), starting on November 29.

The greatest change in the index came from the group Wearing apparel (1.48%) The most significant high was in men’s wearing apparel (2.35%), with and impact of 0.02 pp. The other items of the group also had highs, as women’s wearing apparel (1.19%) and footwear and accessories (1.20%).

In Household articles (1.40%), the highlights were the items household appliances and equipment (2.26%), whose prices rose above those of the previous month (1.51%) and furniture (2.04%). The two sub items contributed with -0.02 pp to January IPCA-15.

All the areas surveyed had highs in January. Conversely, the lowest result occurred in Brasília (0.19%), influenced by the price decreases in gasoline (-4.89%) and in airfare (-14.37%). The greatest change was that of the metropolitan area of Salvador (1.08%), whose result was driven by personal hygiene items (4.57%) and by fruit (9.90%).

In order to measure the IPCA-15, prices collected from December 13, 2021 to January 13, 2022 (reference) were compared with the ones in effect from November 13 to December 13, 2021 (base). The indicator refers to households 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 that of the IPCA; the difference lies in the period of price collection and in the geographic coverage.