IPCA-15 slows down and advances 0.58% in January, above market expectations

Considered a preview of official inflation, the Extended National Consumer Price Index 15 (IPCA-15) rose 0.58% in January compared to December, decelerating after the 0.78% rise in the previous month. In the monthly comparison, the high was 10.20%. The data were released this Wednesday (26) by the Brazilian Institute of Geography and Statistics (IBGE).

The data was higher than expected. The projection of economists consulted by the Refinitiv was up 0.43% compared to December, and 10.04% in the annual comparison.


The result was influenced by the decrease in transport (-0.41%), mainly due to the fall in the prices of gasoline (-1.78%) and airline tickets (-18.21%). The two sub-items contributed -0.12 pp each to the January IPCA-15. In addition, ethanol (-3.89%) and vehicle gas (-0.26%) also had negative variations in the period.

Rising food and beverage prices

With the exception of transport, the other eight groups of products and services surveyed were up in January. In food and beverages (0.97%), food at home accelerated to 1.03%. The major impacts came from onions (17.09%), fruits (7.10%), ground coffee (6.50%) and meats (1.15%). On the other hand, there was a fall in the prices of potatoes (-9.20%), rice (-2.99%) and long-life milk (-1.70%), which had already declined in the previous month.

Food outside the home (0.81%) also accelerated in relation to December (0.08%). Snacks went from a drop of 3.47% to a high of 1.25%, while the meal was up 0.63%, a result lower than the previous month (1.62%).

Read too: Guide to the IPCA, the main Brazilian inflation index

Health and personal care

In the health and personal care group (0.93%), the highlight was personal hygiene items (3.79%). On the side of falls, the health plan retreated 0.69%. In December, the last monthly fraction of the annual adjustment was incorporated, which had been suspended in 2020 and which was applied from January 2021. As a result, only the fraction referring to the negative adjustment of -8.19% announced by the National Agency remained of Supplementary Health (ANS) last year, applied from the IPCA-15 of July.


In housing (0.62%), the biggest impact (0.06 pp) came from residential rent, with an increase of 1.55%. There was also a rise in piped gas (8.40%), as a result of a readjustment in São Paulo. Electricity, the most important sub-item within the group, slowed to 0.03% in January. The positive variation in the water and sewage rate (0.28%) is due to the 9.05% readjustment in Salvador.


Higher variation in the IPCA-15 in January, clothing rose 1.48%, with an increase in all items, including men’s clothing (2.35%), women’s clothing (1.19%) and footwear and accessories (1, 20%).a in household articles (1.40%), the highlights were home appliances and equipment (2.26%) and furniture items (2.04%). The other groups were between 0.25% for education and 1.09% for communication.


Learn more about how inflation rates are calculated by watching the video below:

IPCA-15 is up in all surveyed areas

The survey also shows that all areas surveyed had highs in January. The biggest change was in the metropolitan region of Salvador (1.08%), whose result was driven by personal hygiene items (4.57%) and fruits (9.90%). The lowest result occurred in Brasília (0.19%), influenced by falls in gasoline prices (-4.89%) and airline tickets (-14.37%).

(with IBGE News Agency)

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About Yadunandan Singh

Born in 1992, Yadunandan approaches the world of video games thanks to two sacred monsters like Diablo and above all Sonic, strictly in the Sega Saturn version. Ranging between consoles and PCs, he is particularly fond of platform titles and RPGs, not disdaining all other genres and moving in the constant search for the perfect balance between narration and interactivity.

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