The Extended National Consumer Price Index (IPCA) in May was 0.47%, 0.59 percentage points (pp) below the rate of 1.06% in April. In the year, the IPCA accumulates a high of 4.78% and, in the last 12 months, of 11.73%. This result is below the 12.13% registered in the 12 previous months. In May 2021, the change had been 0.83%.

Eight of the nine groups of products and services surveyed were up in May. The biggest change came from the Wearing Apparel group, up 2.11% and 0.09 p.p. of contribution. The biggest impact (0.30 p.p.) came from Transportation (1.34%), which decelerated in relation to the previous month (1.91%). Food and beverages also slowed, registering 0.48% in May, compared to a high of 2.06% in April. The only group to decrease was Housing (-1.70%), contributing with an impact of -0.26 pp in the monthly index. The other groups were between the 0.04% for Education and the 1.01% for Health and Personal Care.

The result of the Wearing apparel group (2.11%) was mainly influenced by the increase in the prices of men's apparel (2.65%), women's apparel (2.18%) and children's apparel (2.14%). The item footwear and accessories (2.06%) also registered a change above 2% in May. The exception in the group were the jewelry, whose prices retreated 0.34%.

In the Transportation group (1.34%), the major contribution came from airfare (18.33%), which had already risen in April (9.48%). It was the biggest individual impact on the index for the month (0.08 pp), together with pharmaceuticals (2.51%), which are part of the Health and personal care group (1.01%). Fuels (1.00%) decelerated in relation to the previous month (3.20%), due to gasoline, which changed from 2.48% in April to 0.92% in May. There was also a drop in the price of ethanol (-0.43%), which, in April, had risen 8.44%.

Also in Transportation, it is worth mentioning the positive changes in the sub-items urban bus (0.06%) and taxi (0.72%). The former is a consequence of the 12.5% price increase of tickets in Aracaju (5.75%), in force since May 15th. The former arises from the increases of 41.51% in fees in São Paulo (1.99%), in force since April 2nd, and of 14.10% in Fortaleza (5.20%), in force as of April 12th.

There were also increases in intercity buses (1.19%) in three areas: Belo Horizonte (6.88%): readjustments of up to 17% in tickets, since May 16; Aracaju (6.25%): readjustments of up to 12.5% ​​in tickets, since May 15; Porto Alegre (5.39%): readjustment of 7.33% in tickets, since April 14th.

The deceleration of the group Food and beverages (0.48%) is due to food at home, which changed from 2.59% in April to 0.43% in May. There was a drop in the prices of some items that had impacted the index in the previous month, such as tomatoes (-23.72%) and potatoes (-3.94%). There was also a decrease in carrot prices (-24.07%), although the cumulative change of this item in 12 months is still 116.37%. The biggest positive impact within the group (0.04 p.p.) came from long-life milk (4.65%), which already accumulates 28.03% of change in the year. It is also worth mentioning the 21.36% rise in onion prices, the highest positive change of the IPCA in the month of May.

The result of food away from home (0.61%) was very close to that of April (0.62%). Snacks went from 0.98% to 1.08% and meals went from 0.42% to 0.41%.

The fall in the Housing group (-1.70%) is mainly due to electricity (-7.95%), which fell for the second consecutive month. On April 16, the extra charge of R$ 14.20 for every 100 kWh consumed, in the context of the Water Scarcity banner, ceased. Since then, the green flag has been in effect, with no additional charge on the electricity bill. The changes in electric energy in the areas ranged from -13.49% in Brasília (where there was a reduction in PIS/COFINS) to 6.97% in Fortaleza, due to the 24.23% increase in residential fees, as of April 22.

There were also tariff increases in the electricity bills of the following places: Recife (3.27%): increase of 18.77%, in effect since April 29; Salvador (2.56%): increase of 20.97%, in effect since April 22; Aracaju (0.79%): increase of 16.81%, as of April 22; and Campo Grande (-1.63%): increase of 17.14%, as of April 16th.

Also in Housing, there was a decline in bottled gas prices (-1.02%), after the 3.32% rise in April. On the high side, the positive change in the water and sewage fee (2.73%) reflects the increases of 12.89% in São Paulo (8.29%), in force since May 10, and of 4.99% in Curitiba (1.97%), since May 17. The rise in piped gas (2.23%) was due to two increases: 5.95%, in Rio de Janeiro (with a change in the index of 5.74%), on May 1st; and 9.16%, in Curitiba (change of 3.27%), on May 18.

In the group Health and personal care (1.01%), the result was influenced by the rise in pharmaceuticals (2.51%), greater individual positive impact on the May index (0.08 p.p.) together with airline tickets, as already mentioned. Health plans, in turn, continue to fall (-0.69%). The 15.5% increase approved by the National Regulatory Agency for Private Health Insurance and Plans (ANS) on May 26 will be incorporated from the June IPCA-15 onwards, following the methodology used in previous years.

Only Vitória (-0.08%) had a negative change in May, mainly due to falls in the prices of electricity (-10.48%) and tomatoes (-39.93%). The biggest increase was in Fortaleza (1.41%), driven by electricity (6.97%) and gasoline (2.19%).

INPC up 0.45% in May

The National Consumer Price Index - INPC had a high of 0.45% in May, below the one registered in the previous month (1.04%). In the year, the INPC accumulates a high of 4.96% and, in the last 12 months, of 11.90%, below the 12.47% observed in the 12 previous months. In May 2021, the rate was 0.96%.

Food products decelerated from 2.26% in April to 0.63% in May. Non-food items went from 0.66% to 0.39%.

As for the regional indexes, 14 of the 16 areas had an increase in May. The highest result occurred in Fortaleza (1.39%), as a result of increases of 6.42% in electricity and 2.19% in gasoline. The smallest change was observed in Vitória (-0.20%), influenced by drops of 10.60% in electricity bills and 39.93% in tomato prices.

To calculate the monthly index, prices collected in the period from April 30 to May 27, 2022 (reference) were compared with the prices in force in the period from March 31 to April 29, 2022 (base).