Brazil's Extended National Consumer Price Index (IPCA) for February was 0.70%, 0.37 percentage points (pp) higher than the 0.33% recorded in January. Year-to-date, the IPCA has accumulated a 1.03% increase, and over the last twelve months, the index stood at 3.81%, below the 4.44% of the preceding 12 months. In February 2025, the change was 1.31%. The largest change and impact were recorded in the Education group (5.21% and 0.31 pp), followed by Transportation, with the second largest change and impact (0.74% and 0.15 pp). Together, these two groups represent approximately 66% of the month's result. The remaining groups ranged from 0.13% for Household articles to 0.59% for Health and personal care.

The Education group showed the largest change (5.21%) and the greatest impact (0.31 pp) on the February result, accounting for approximately 44% of the index. The largest contribution came from regular courses (6.20%), due to the adjustments usually made at the beginning of the school year. The largest changes were in the subitems secondary school (8.19%), priamary school (8.11%) and preschool (7.48%).

The Transportation group (0.74%) was responsible for the second largest impact on the February index (0.15 p.p.), with an 11.40% increase in airfare. Other increases were seen in voluntary vehicle insurance (5.62%), car repairs (1.22%), and urban bus (1.14%). The urban bus subitem (1.14%) reflects the incorporation of the following fare adjustments:

• 20.00% in Fortaleza (3.91%), as of January 1st.
• 8.70% in Belo Horizonte (1.73%), as of January 1st.
• 6.38% in Rio de Janeiro (1.01%), as of January 4th.
• 5.36% in Salvador (-0.37%), as of January 5th.
• 6.00% in São Paulo (2.27%), as of January 6th.
• 4.16% in Vitória (1.42%), as of January 12th.
• 4.46% in Recife (4.42%), as of February 1st.
• 6.00% in Porto Alegre (2.40%), as of February 19th.

Furthermore, due to reduced fares on Sundays and holidays, Curitiba registered a change of -1.27% in urban bus, while in Brasília it was -9.54% due to free fares on Sundays and holidays, which are also in effect in Belém (1.04%).

Also in Transportation, subway trains (0.00%) appropriated the change of -9.54% in Brasília, due to free fares on Sundays and holidays, and the 3.85% increase in São Paulo (0.94%), starting on January 6th, the same applied to trains (0.51%), in São Paulo (0.94%), with the same effective date. Also in São Paulo (1.76%), the public transportation integration (1.76%) considers, in addition to free fares, the increase mentioned above. The taxi subitem (0.90%) reflects the following rises: 4.26% in Porto Alegre (1.69%) starting February 19th; 4.53% in Salvador (3.48%) starting January 23rd; 18.70% in Fortaleza (11.28%) starting January 19th; and 4.92% in Rio de Janeiro (0.45%) starting January 2nd.

It is worth noting the -0.47% change in fuels, with decreases in gasoline (-0.61%) and vehicular gas (-3.10%), and increases in ethanol (0.55%) and diesel fuel (0.23%).

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 a decrease of 0.11% registered in January. The increase was driven by the water and sewage 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%) from January 22; 4.57% in Campo Grande (0.57%) from January 3; and 6.48% in São Paulo (0.40%) from 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.

The Food and Beverages group went from 0.23% in January to 0.26% in February. Food at home registered a change of 0.23%, compared to 0.10% in the previous month, influenced by increases in açaí (25.29%), carioca beans (11.73%), hen eggs (4.55%), and meat (0.58%). On the downside, the most notable decreases were in fruits (-2.78%), soybean oil (-2.62%), rice (-2.36%), and ground coffee (-1.20%).

Food away from home (0.34%) slowed down 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.

Regarding regional indices, the largest change 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%).

IPCA change by area

The IPCA has been calculated by the IBGE since 1980. It refers to families with monetary income of 1 to 40 minimum wages, regardless of the source, and covers ten Metropolitan Areas of the country, in addition to the municipalities of Goiânia, Campo Grande, Rio Branco, São Luís, Aracaju, and Brasília. For the calculation of the index for the month, prices collected between January 30, 2026, and March 3, 2026 (reference period) were compared with prices in effect between December 30, 2025, and January 29, 2026 (base period).

INPC reaches 0.56% in February

The National Consumer Price Index - INPC rose 0.56% in February, 0.17 percentage points above the result observed in January (0.39%). In the year, the INPC accumulated an increase of 0.95%, and, looking at 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%).

INPC change by area

The INPC has been calculated by the IBGE since 1979. It refers to families with a monetary income of 1 to 5 minimum wages, where the head of the household is a salaried worker, and covers ten Metropolitan Areas of the country, in addition to the municipalities of Goiânia, Campo Grande, Rio Branco, São Luís, Aracaju, and Brasília. For the calculation of the index for the month, prices collected between January 30, 2026, and March 3, 2026 (reference period) were compared with prices in effect between December 30, 2025, and January 29, 2026 (base period).