Inflation in April (0.67%) slowed down in relation to the result in March (0.88%), but accumulated an increase of 2.60% in the first four months, reaching 4.39% in the last 12 months. With a rate of 1.34%, the group of food and beverages accounted for 0.29 p.p., while in the group of health and personal care, the increase was 1.16% and the impact was 0.16 p.p. on the index of the month. The sub-item with the biggest individual impact was gasoline, which slowed from 4.59% in March to 1.86% in April, and represented 0.10 p.p. of the indicator. The results of the Brazilian official inflation were released this morning (12), by the Brazilian Institute of Geography and Statistics.

In April, food at home recorded a change of 1.64%, influenced by the increases in carrot (26.63%), long-life milk (13.66%), onion (11.76%), tomatoes (6.13%) and meat (1.59%). On the dropping side, the highlights were ground coffee (-2.30%) and chicken pieces (-2.14%). Food away from home registered an increase of 0.59%, with snacks rising from 0.89% in March to 0.71% in April and meals, from 0.49% to 0.54%, in the same period.

“Some food, in general, have a supply restriction, which causes an increase in price levels. In the case of milk, with the arrival of a drier weather, seasonal in the period, there is a reduction in pasture, requiring the inclusion of animal feed, which increases costs. We cannot fail to mention the rise in fuel prices, which affects the final price of food due to the cost of freight,” explained the IPCA manager, José Fernando Gonçalves.

In the first four months of 2025, the cumulative result for the group of food and beverages was 3.70%, 0.26 p.p. above the result of 2026 (3.44%) in the same period. The IPCA manager highlights that “in 2025 there was still the effect of the rise in coffee and tomatoes. Since July 2025, coffee has been recording a drop in the monthly results.”

In Health and personal care (1.16%), the highlights were pharmaceuticals (1.77%), after the authorization of an increase of up to 3.81% in the prices of medicines on April 1st, and personal hygiene articles (1.57%), with emphasis on perfumes (1.94%). In the first four months of 2025, the cumulative result for the group of Health and personal care was 2.83%, 0.08 p.p. below the result of 2026 (2.91%) in the same period. Fernando Gonçalves compares the periods and explains the drop:

“The price movement is similar in both periods, influenced, in general, by health insurance plans and personal hygiene items. Of particular note is the readjustment in medicines, approved from April onwards, with a limit of up to 5.09% in 2025 and 3.81% in 2026. It is also important to highlight that the devaluation of the real against the dollar in the first months of 2025 was greater than it is now in 2026, and the foreign currency regulates imported inputs used in the pharmaceutical industry.”

In the Housing group, the 0.63% change in April was influenced by bottled gas, with an increase of 3.74%, and residential electricity (0.72%), which incorporates the following adjustments: 6.92% and 14.66% in concessionaires in Rio de Janeiro (4.83%), both effective from March 15; 12.36% in Campo Grande (2.27%), as of April 24; 4.78% in Salvador (2.23%), since April 22; 3.86% in Recife (1.05%), in force since April 29; 5.91% in Aracaju (0.89%), and 5.59% in Fortaleza (0.44%), both as of April 22. Still in Housing, water and sewage fees (0.22%) reflects the 4.80% increase in tariffs in Goiânia (4.80%), as of April 1st.

The group of transportation slowed down from March (1.64%) to April (0.06%), mainly due to the 14.45% drop in the airfare sub-item. Coupled with it, urban bus changed -1.13%, due to the appropriation of free fares or fare reductions on Sundays in São Paulo (1.10%) and Salvador (0.55%) and, also, on holidays, in Fortaleza (-0.57%), Vitória (-0.60%), Curitiba (-3.05%), Brasília (-6.58%), Belém (-6.60%) and Belo Horizonte (-6.72%). The 0.38% reduction in subway was due to the incorporation of free fares on Sundays and holidays in Brasília (-6.58%).

On the rising side, in the group of transportation, fuels stand out with a 1.80% change. Gasoline slowed down from March (4.59%) to April (1.86%), still positioning itself as the main individual impact on the month's index (0.10 p.p.). Also noteworthy are the increases in diesel fuel, 4.46%, and ethanol (0.62%). Vehicular gas fell 1.24%. Intercity bus fares (0.55%) include an 8.18% increase in fares in Porto Alegre (3.52%) since April 8, and the taxi sub-item (0.26%) reflects the 7.72% increase in Recife (5.81%), in force since February 12, not previously captured.

As for regional indexes, the biggest change occurred in Goiânia (1.12%), influenced by the increase in gasoline prices (5.77%) and water and sewage fees (4.80%). The smallest change occurred in Brasília (0.16%), due to the decline in airfare (-10.88%) and gasoline (-1.03%).

INPC stayed at 0.81% in April and accumulated 2.70% in the year

The National Consumer Price Index - INPC increased by 0.81% in April, 0.10 p.p. below the result observed in March (0.91%). In the year, the INPC accumulated an increase of 2.70% and, from the perspective of the last 12 months, the index stood at 4.11%, above the rate of 3.77% of the immediately previous 12 months. In April 2025, the rate had been 0.48%.

Food products slowed down from March (1.65%) to April (1.37%). The change in non-food products went from 0.67% in March to 0.63% in April.

As for regional indexes, the biggest change occurred in São Luis (1.16%), influenced by the increase in bottled gas (7.03%) and personal hygiene items (2.23%). The smallest change occurred in Brasília (0.09%), due to the decline in airfare (-10.88%) and urban bus (-6.58%).

More about the survey

The IPCA encompasses households with earnings between 1 and 40 minimum wages, whereas the INPC, households with earnings between 1 and 5 minimum wages, living in the metropolitan areas of Belém, Fortaleza, Recife, Salvador, Belo Horizonte, Vitória, Rio de Janeiro, São Paulo, Curitiba, Porto Alegre, as well as in the Federal District and in the municipalities of Goiânia, Campo Grande, Rio Branco, São Luís and Aracaju. Access the data on Sidra. The next IPCA result, for May, will be released on June 12.

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