The Extended National Consumer Price Index (IPCA) was 0.83% in February, standing 0.41 percentage points (p.p.) above the rate of January (0.42%). In the year, IPCA had a cumulative increase of 1.25% and, in the last 12 months, of 4.50%, being very close to the rate of the previous 12 months (4.51%). In February 2023, the change was of 0.84%.

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Among the nine groups of products and services surveyed, seven recorded increases in February. Education accounted for the main change (4.98%) and the main impact (0.29 p.p.). Food and beverages  (0.95% and 0.20 p.p.) and Transportation (0.72% and 0.15 p.p.) also stood out. The main groups ranged between -0.44% of Wearing apparel and 1.56% of Communication.

In Education (4.98%), regular courses (6.13%) accounted for the main contribution, due to the seasonal adjustments usually effected at the start of the school year. The main changes came from high school (8.51%), elementary education (8.24%), preschool education (8.05%), and daycare (6.03%). Technical courses (6.14%), higher education (3.81%), and post-graduate courses (2.76%) also recorded increases.

In the group of Food and beverages (0.95%), food at home rose by 1.12% in February. The increases in onion (7.37%), potato (6.79%), fruits (3.74%), rice (3.69%) and long-life milk (3.49%) contributed to this result.

Food away from home (0.49%) accelerated compared to the result of January (0.25%). The item meal (0.67%) had a bigger change than in the previous month (0.17%), while snacks (0.25%) slowed down.

In the group Transportation (0.72%), all fuels (2.93%) experienced increases: ethanol (4.52%), gasoline (2.93%), prices of vehicle gas (0.22%), and diesel fuel (0.14%). The sub-item taxi increased by 0.64% due adjustments: as of January 1st, of 4.21% in Rio de Janeiro (0.25%) and 4.61% in Salvador (0.29%); and as of February 8th, of 8.31% in Belo Horizonte (5.90%). In turn, there was a decrease in the prices of airfares (-10.71% and -0.09 percentage points).

Also in Transportation, the change in urban bus fares (1.91%) was influenced by the 4.53% price adjustment in Vitória (2.22%) as of January 14; in Rio Branco (3.55%), after the application of free fares on December 17th, 24th and 31st; and in São Paulo (10.69%), after the application of free fares on Sundays and some commemorative dates, starting on December 17th on; and also in São Paulo, there was a residual incorporation of the 13.64% fare adjustment to train (0.81%) and subway (0.81%) fares, as of January 1. Due to the aforementioned rises, the integration of public transportation rose by 9.36% in this area. In Rio de Janeiro, there was a 4.05% reduction in train fares (-3.65%), as of February 02.

In Housing (0.27%), the increase in water and sewage rate (0.11%) was influenced by the appropriation of the following adjustments: 31.75% in São Luís (4.89%), as of January 5th; average adjustment of 4.21% in Belo Horizonte (0.36%), as of January 1st; and 4.18% in Campo Grande (0.52%), as of January 3d. In piped gas (-1.40%), the following adjustments were incorporated: in Rio de Janeiro (-1.20%), average drops of 0.45% as of January 1st and 1.30% as of February 1st; in Curitiba (-2.61%), drops of 6.82% since January 1st and 2.29% since February 1st.

In the group Communication (1.56%), the result was influenced by the rises in subscription TV (4.02%) and telephone, Internet, and subscription TV combos (3.29%).

Regarding regional indexes, all the areas covered by the survey experienced price increases. The main change took place in Aracaju (1.09%), influenced by the rise in gasoline prices (10.45%). The lowest result was recorded in Rio Branco (0.26%), due to the decrease in airfare prices (-19.37%).

For the calculation of the index, prices collected from January 30 to February 29, 2024 (reference) were compared to those of December 30, 2023 to January 29, 2024 (base). The IPCA has been calculated by IBGE since 1980. It refers to households with monthly income of 1 to 40 minimum wages, whatever the source. It encompasses ten metropolitan areas in Brazil, besides the municipalities of Goiânia, Campo Grande, Rio Branco, São Luís, Aracaju, and Brasília.

In February, the National Consumer Price Index (INPC) rose by 0.81%

The National Consumer Price Index (INPC) increased by 0.81% in February, 0.24 p.p. higher than the result observed in January (0.57%). In the year-to-date, the INPC has accumulated an increase of 1.38% and over the last 12 months, it has reached 3.86%, up from the 3.82% observed in the immediately preceding 12 months. In February 2023, the rate was 0.77%.

Food products decreased from 1.51% in January to 0.95% in February. The change in non-food products was higher, reaching 0.77% in February compared to an increase of 0.27% in the previous month.

As for regional indexes, all the areas recorded increases in February. The highest change took place in Aracaju (1.01%), influenced by the rise in the prices of gasoline (10.45%). The lowest change took place in Goiânia (0.51%), driven by decreases in airfare (-23.75%) and meat prices (-1.40%).

In order to measure the monthly indexes, prices collected from January 30th to February 29th, 2024 (reference) were compared with the ones in effect from December 30th, 2023, to January 29th, 2024 (base). The National Consumer Price Index (INPC) has been calculated by the IBGE since 1979 and it refers to households with monthly income of 1 to 5 minimum wages, having a salaried head. It encompasses ten metropolitan areas in Brazil, besides the municipalities of Goiânia, Campo Grande, Rio Branco, São Luís, Aracaju, and Brasília.