Influenced by increase in school tuition fees, the IPCA accelerated from 0.33% in January to 0.70% in February, the highest rate since February 2025 (1.31%). The largest change and impact were recorded in the Education group (5.21% and 0.31 pp), due to the annual rise in tuition fees for schools and courses. Along with the increase in the Transportation group (0.74% and 0.15 pp), the two groups represented approximately 66% of the month's result. Year-to-date, the IPCA has accumulated an increase of 1.03%, and over the last twelve months, the index stood at 3.81%, below the 4.44% of the preceding 12 months. This is shown by the result of the country's official inflation index - IPCA, released today (12) by the IBGE.

Research manager Fernando Gonçalves points out that although higher than in previous months, the result is the lowest for a February since 2020 (0.25%). “In February of last year, the IPCA of 1.31% was driven by pressure from the housing group, especially electricity, due to the end of the Itaipu Bonus, which did not occur in 2026,” explained Fernando Gonçalves. “Also in comparison with the previous year, Education accelerated, registering 5.21% in February 2026 against 4.70% in February 2025,” he added.

The Education group alone accounted for approximately 44% of the February index. The largest contribution came from regular courses (6.20%), due to increases usually occurred at the beginning of the school year. The largest changes were in the subitems secondary school (8.19%), primary school (8.11%), and preschool (7.48%). In the Transportation group, the 11.40% increase in airfare stood out. Other increases were recorded in voluntary vehicle insurance (5.62%), car repairs (1.22%), and urban bus fares (1.14%). In fuels, the index was -0.47%, with decreases in gasoline (-0.61%) and vehicular gas (-3.10%), and increases in ethanol (0.55%) and diesel fuel (0.23%).

The Food and beverages group showed little change from January (0.23%) to February (0.26%). Food at home registered 0.23% compared to 0.10% in the previous month, influenced by increases in acai berries (25.29%), carioca beans (11.73%), hen eggs (4.55%), and meat (0.58%). Among the rates in a dowanward trend, the most notable decreases were in fruits (-2.78%), soybean oil (-2.62%), rice (-2.36%), and ground coffee (-1.20%). Meanwhile, food away from home (0.34%) slowed compared to the previous month (0.55%). Meals decreased from 0.66% in January to 0.49% in February, and snacks decreased from 0.27% to 0.15% during the same period.

“The food group changed by 0.26% in February, showing a slowdown compared to February 2025, when it registered the influence of hen eggs (15.39%) and ground coffee (10.77%). In the current index, these sub-items slowed to 4.55% (chicken eggs) and -1.20% (coffee), the eighth consecutive month of price decreases for this subitem, which accumulates a 10.13% change in the last 12 months. In addition to these products, rice, an important staple in Brazilian diets, has already accumulated a 27.86% drop in 12 months due to the good supply of the cereal,” highlighted Fernando Gonçalves.

In Health and personal care (0.59%), personal hygiene items (0.92%) and health insurance (0.49%) stand out.

The Housing group showed a change of 0.30% in February, after the 0.11% drop registered in January. The increase was driven by the water and sewage rate subitem (0.84%) due to the appropriation of the following rises: 6.21% and 4.69% in Porto Alegre (0.99%) effective since February 23 and January 1, respectively; 6.56% in Belo Horizonte (7.07%) effective since January 22; 4.57% in Campo Grande (0.57%) effective since January 3; and 6.48% in São Paulo (0.40%) effective since January 1.

Residential electricity changed by 0.33% in February, with the green tariff flag remaining in effect. The piped gas subitem showed a decrease of 1.60%, incorporating reductions of 0.08% (since January 1st) and 4.44% (since February 1st) in tariffs in Rio de Janeiro (-3.64%), and also a reduction of 4.01% in Curitiba (-3.77%) from February 1st.

Regionally, the largest change in the February IPCA occurred in Fortaleza (0.98%), influenced by the increase in regular courses (6.83%) and gasoline (2.95%). The smallest change occurred in Rio Branco (0.07%), due to the decrease in residential electricity (-1.27%) and new cars (-0.85%).

INPC rose 0.56% in February, 0.17 percentage points higher than January's result

The National Consumer Price Index - INPC rose 0.56% in February, 0.17 percentage points higher than January's result (0.39%). Year-to-date, the INPC has accumulated a 0.95% increase, and over the last 12 months, the index stood at 3.36%, below the 4.30% of the preceding 12 months. In February 2025, the rate was 1.48%.

Food products accelerated from January (0.14%) to February (0.26%). The change in non-food products went from 0.47% in January to 0.66% in February.

Regarding regional indices, the largest change occurred in Fortaleza (0.98%), influenced by the increase in regular courses (7.02%) and gasoline (2.95%). The smallest change occurred in Campo Grande (0.07%), due to the decrease in residential electricity (-5.31%) and tomatoes (-10.71%).

More about the survey

The IPCA covers families with incomes from 1 to 40 minimum wages, while the INPC covers families with incomes from 1 to 5 minimum wages, residing in the Metropolitan Areas of Belém, Fortaleza, Recife, Salvador, Belo Horizonte, Vitória, Rio de Janeiro, São Paulo, Curitiba, Porto Alegre, as well as the Federal District and the municipalities of Goiânia, Campo Grande, Rio Branco, São Luís and Aracaju. You can access IPCA data on Sidra. The next IPCA result, referring to March, will be released on April 10th.

Learn more about the Extended National Consumer Price Index – IPCA:

What is the IPCA?

Time Series 

Tables 

Publications