The Extended National Consumer Price Index (IPCA) increased by 0.95% in March, 0.04 percentage points (p.p.) above the February rate (0.99%). It is as the highest change for a month of March since 2015 (1.24%). IPCA-E, which is IPCA-15 cumulative in the quarter, stayed at 2.54% for the period January-March, above the rate of 2.21% registered in the same period in 2021. Cumulative IPCA-15 in 12 months is 10.79%, above the 10.76% regiatered in the 12 previous months. In March 2021, the rate was was of 0.93%.

All the nine groups of products and services surveyed recorded increases. The biggest impact (0,40 p.p.) and the biggest change (1.95%) came from Food and beverages, which accelerated from the previous month (1.20%). The second main impact (0.16 p.p.) came from the group Health and personal care,whose prices rose 1.30%, after the decrease observed in February (-0.02%). Transportationwas in the third position, with 0.15 p.p of contribution and an increase of 0.68%. Altogether, the three groups accounted for about 75% of the total impact of IPCA-15 in March. Other highlights were Housing (0.53%) and Household appliances (1,47%), with the latter recording the biggest change in the monthly index. The other groups stood between 0.04% of Communication and 0.95% ofApparel.

The result of Food and beverages (1.95%) was mainly influenced by the increase of food at home(2.51%). The main contributions were those of (45.65%),carrots (45.65%), do tomato (15.46% and of fruits (6.34%). There were also significant increases in potato (11.81%), hen eggs (6.53%) and long life milk (3.41%). In terms of decreases, chicken pieces (-1.82%), whose prices had fallen in February (-1.31%) stood out.

Food away from home accelerated from 0.09% to 0.92%, but Snacks accelerated from 0.09% to 0.92%, but meals followed the opposite path, with a changes from 0.57% in February to 0.25% in March.

The change in the group Health and personal care (1.30%) is related to the rise of pesonal hygiene items (3.98%) and, em particular, of perfumes (12.84%). There wasl also a rise of 0.83% in pharmaceuticals and of 0.58% indental and medical services. The item health insurance (-0.69%), has decreased, due to the negative adjustment of -8.19% applied by the National Regulatory Agency for Private Health Insurance and Plans (ANS) last year.

In Transportation (0,68%), (0.68%), the biggest impact (0.05 p.p.) came from gasoline subitem of lowest relevance to the IPCA-15, with 6.40% of the total. The price of this fuel in refineries was adjusted to 18.77% on March 11. The prices of diesel (4.10%) and vehicular gas (5.89%) also rose. Ethanol was the exception, with a decrease of 4.70%. Another highlight was the result of airfares (-7.55%), whose prices fell for the third consecutive month.

Also in the group Transportation, among the increases, it is worth highlighting the performance of new cars (0.83%) and used cars (0.70%), although there was deceleration in relation to the previous month (when there were decreases of 2.64% and 2.10%, respectively). In public transportation, the positive change of urban buses (1.04%) results from price adjustments in aifares in three areas:

• Curitiba (10.67%): adjustment of 22.23% as of March 1st.

• Recife (9.07%): adjustment of 9.33%, in effect since February 13.

• Fortaleza (0.26%): adjustment of 8.55%, in effect since January 15./p>

There was also price adjustment of intercity buses (0.37%) in Curitiba (1.51%) and in Rio de Janeiro (4.12%), both starting on March 1st.

In Housing (0,53%), the biggest impacts came from electricity (0.37%) and bottled gas (1.29%), both with 0.02 p.p. The price of gas sold in refineries rose 16.06% on March 11. In the case of electricity, the changes ranged from -2.34% in Brasília up to 4.00% in Goiânia. In Rio de Janeiro (0.93%), the hike resulting from fare adjustments in two electricity concessionnaires surveyed (rises of 15.58% and 17.30%), both in effects since March 15.

Also in Housing, a highlight was the positive change of bottled gas (2.63%), as a consequence of the price adjustments of 2.95% and 7.72% in Rio de Janeiro (3.19%) on February 12 and March 16, respectivelt, and of 26.00% in Curitiba (15.70%), in effect since February 25. Finally, it is worth mentioning the result of water and sewage fares (0.49%), influenced by the adjustments of 6.71% in Fortaleza (3.60%), in effect since January 30, and of 8.98% in Goiânia (5.37%), in effect since February 1st.

Household articles (1.47%) decelerated from February (1.94%), but are still affected by the rises of furniture (2.45%) and de household appliances and equipment (1.92%). In 12 months, the cumulative increases for th two items reached 19.88% and 19.25%, respectively.

All the areas surveyed recorded increases in March. The biggest change was registered in Curitiba (1.55%), due to the hike of 6.47% in the prices of gasoline. The lowest result was registered in Brasília (0.61%), influenced by fall of prices of airfares (-13.23%) and electricity (-2.34%).

In order to estimate IPCA-15, the prices collected from February 12 to March 16, 2022 (reference) of 2015 were compared with the ones in force from January 14 to February 11, 2022 (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, besides Brasília and the municipality of 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.