Brazil's official inflation rose 1,31% in February, after rising 0,16% in January, data published by IBGE (Brazilian Institute of Geography and Statistics) showed on Wednesday (12).
This is the highest level of HI (Broad National Consumer Price Index) for the month since 2003, when the indicator reached 1,62%.
The main culprit behind the surge in prices in February was residential electricity, which rose 16,8% compared to January.
The adjustment occurred due to the end of the Itaipu Bonus concession, which had temporarily reduced tariffs in the previous month.
As a result, the Housing group, of which electricity is a part, accelerated from -3,08% in January to 4,44% in February, being the sector that most impacted the IPCA in the month.
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In the year to date, inflation has risen by 1,47%, while in the last 12 months it reached 5,06% – the highest level since September 2023 (5,19%).
The indicator is above the Central Bank's target ceiling, which is 3% per year, and is considered within the tolerance margin if it is between 1,50% and 4,50%.
How is the IPCA calculated?
The IPCA has been calculated by the IBGE since 1980 and reflects the variation in prices for families with incomes between 1 and 40 minimum wages. The index covers ten metropolitan regions of the country, in addition to the cities of Goiânia, Campo Grande, Rio Branco, São Luís, Aracaju and Brasília.
To calculate the month, prices collected between January 30, 2025 and February 26, 2025 (reference) were compared with prices in effect from December 28, 2024 to January 29, 2025 (base).
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