The Extended National Consumer Price Index (IPCA) of February was 1.31%, and stood at 1.15 percentage points (p.p.) above the January rate (0.16%). That is the highest IPCA result in a month a February since 2003 (1.57%). In the year, cumulative IPCA reached 1.47% and, in the last 12  months, 5.06%, above the 4.56% of the previous 12 months. In February 2024, the change was 0.83%.

Among the nine groups of products and services surveyed, Education (4.70% and 0.28 p.p.) recorded the biggest change, followed by Housing (4.44%), which accounted for the main impact (0.65 p.p.) on the monthly index. Increases in Food and beverages (0.70%) and Transportation (0.61%) stood out. The fourn groups altogether accounted for 92% of the IPCA index in February. 

Education (4.70%), had as main contribution regular courses (5.69%), due to the fee adjustments usually observed in the beginning of the school year. The main changes came from primary school (7.51%), high school (7.27%) and pre school (7.02%).

In the group Housing (4.44%), residential electricity was the subitem accounting for the main positive impact on the index (0.56 p.p.), having advanced 16.80% in February, after a drop observed in January (-14.21%), as a result of the Itaipu Bonus. 

Also in Housing, the result of water and sewage rate (0.14%) reflects the price adjustments of 6.84% in fares in Campo Grande (1.18%), in effect since January 3; 6.42% in Belo Horizonte (0.74%) and 6.45% in one of the concessionnaires of Porto Alegre (0.37%), both in effect since January 1st. In the subitem piped gas (-0.64%), a change of -0.90% in Rio de Janeiro was the result of a positive adjustment of 4.71%, starting on January 1st, and an average drop of 1.78% in fares, in effect since February 1st. In Curitiba (-2.80%), there was a drop of 3.01% in fares, starting on February 1st. 

In the group Food and beverages (0.70%), food at home rose 0.79% in February, with deceleration from January (1.07%). Contribution to this result came from hen eggs (15,39%) and ground coffee (10.77%). As for drops, potato (-4.10%), rice (-1.61%) and long life milk (-1.04%).

Food away from home (0.47%) also decelerated against January (0.67%), with the subitems snacks (0.66%) and meal (0.29%) recording changes below those observed a month ago (0.94% and 0.58%, respectively).

In Transportation (0.61%), the result was influenced by the rise of fuels (2.89%): diesel (4.35%), ethanol (3.62%) and gasoline (2.78%). Only vehicle (-0.52%) recorded a decrease.  

Also in Transportation, the result of urban bus (3.00%) reflects the price adjustments in fares: 

• São Paulo (12.01%): price adjustment of 13.64% since January 06. The result of the area also encompasses free fares granted on New Year Eve (01/01) and the anniversary of the city (25/01);
• Campo Grande (3.34%): adjustment of 4.21% starting on January 24;
• Rio de Janeiro (2.17%): adjustment of 9.30% on January;
• Vitória (1.91%): adjustment of 4.38% since January 12;
• Salvador (1.56%): adjustment of 7.69% since January 4;
• Recife (1.18%): adjustment of 4.87% since january 5;
• Belo Horizonte (1.05%): adjustment of 9.52% since January 1st;
• Fortaleza (0.46%): adoption of the social fare on December 31, 2024. 
• Curitiba (-1.76%): since January 5, the modal fare on Sundays has dropped to half of the value. 

There was an increase in taxi (0.30%) due to price adjustments of 7.83% in Rio de janeiro (1.11%), in effect since January 2 and of 4.79% in Salvador (0.56%), in effect since January 1st. In São Paulo, there were increases of 0.97% in train and subway, due to the price adjustment of 4.00% in fares starting on January 06. Train (3.35%) also had an adjustment of 7.04%, starting on February 2, in Rio de Janeiro (6.34%).

The change of 7.30% in integrated public transport in São Paulo is a combination of the adjustment mentioned and free fares granted to the entire population on the holidays of New Year's Day (01/01) and the anniversry of the city (25/01).

As for regional indexes, the biggest change was that of Aracaju (1.64%), influenced by the rise of residential electricity (19.20%) and gasoline (3.29%). The lowest change was that of Fortaleza (1.03%), due to the drop in airfares (-18.56%) and gasoline (-3.31%).

The IPCA has been calculated by the 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 order to estimate the index of the month, the prices collected from January 30, 2024 to February 26, 2025 (reference) were compared with the prices in force from December 28 to January 29, 2025 (base).

INPC of February is 1.48% 

The Extended National Consumer Price Index (INPC) increased by 1.48% in February. In the year, the cumulative index is 1.48% and, in the last 12 months, 4.87%, above the 4.17% of the immediately previous 12 months. In February 2024, the rate was 0.81%.

Food products decelerated from January (0.99%) to February (0.75%). The change in non-food products changed from -0.33% in January 1.72% ein February.

As for regional indexes, the biggest change was that of Aracaju (1.79%), driven by the rise of residential electricity (19.20%) and gasoline (3.29%). The smallest change was that of Goiânia (1.01%), due to the drop of airfares (-26.67%) and beef (-1.95%).

The INPC has been calculated by the IBGE since 1979. It refers to households with monthly income of 1 to 5 minimum wages, with a salaried head of the household. It encompasses ten metropolitan areas in Brazil, besides the municipalities of Goiânia, Campo Grande, Rio Branco, São Luís, Aracaju and Brasília.

In order to estimate the index of the month, the prices collected from Janaury 30, 2025 to February 26, 2025 (reference) were compared with the prices in force from December 28, 2024 to January 29 (base).