IPCA-15 rises 0.53% in November, less than expected

The Extended National Consumer Price Index 15 (IPCA-15) rose again in November, 0.53% compared to October, reported this Thursday (24) the Brazilian Institute of Geography and Statistics (IBGE). The data was 0.37 percentage points (pp) above the October result (0.16%).

The inflation announced in October was below the Refinitiv consensus, which expected a 0.56% increase compared to the previous month.

With the result announced this Wednesday, the IPCA-15 accumulates an increase of 5.53% in the year. The 12-month rate was 6.17%. The projection was higher, at 6.21%.


With the exception of the Communication group, which showed stability in prices (0.00%), all other aggregates of products and services surveyed had positive change in November.

The main impacts came from Food and beverages (0.54%) and Health and personal care (0.91%). Next came the Transport group, which fell from 0.64% in October to an increase of 0.49% in November. The biggest change in the index for the month came from Apparel, with a rise of 1.48%, a result close to that of the previous month (1.43%).

The Housing group also rose by 0.48%, up from 0.28% in October. The other groups were between 0.05% for Education and 0.54% for Home Articles.

In the Food and Beverages group, the rise was driven by food for consumption at home (0.60%). Also noteworthy were increases in the prices of tomatoes (17.79%), onions (13.79%) and potatoes (8.99%). In addition, fruit prices rose 3.49% in the month. On the downside, it is worth mentioning long-life milk (-6.28%), whose prices had already dropped in October (-9.91%).

Preview shows high inflation in November

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