Brazil's National Consumer Price Index 15 (IPCA-15) rose 0.44% in March, 0.40 percentage points (pp) below the rate recorded in February (0.84%). The IPCA-E, which is the IPCA-15 accumulated quarterly, stood at 1.49%, below the rate of 1.99% recorded in the same period of 2025. Over 12 months, the IPCA-15 accumulates an increase of 3.90%, below the 4.10% observed in the preceding 12 months. In March 2025, the IPCA-15 was 0.64%.

All nine groups of products and services surveyed registered positive change in March, with the Food and Beverages group standing out with the largest change (0.88%) and impact (0.19 pp), followed by Personal Expenses (0.82% and 0.09 pp). The other groups ranged from 0.03% for Communication to 0.47% for Apparel.

IPCA-15 and IPCA-E - Change and impact in Groups    

In the Food and Beverages group (0.88%), food consumed at home accelerated from 0.09% in February to 1.10% in March. Contributing to this result were increases in açaí (29.95%), carioca beans (19.69%), hen eggs (7.54%), long-life milk (4.46%), and meats (1.45%). On the downside, ground coffee (-1.76%) and fruits (-1.31%) stand out.

Food consumed away from home went from 0.46% in February to 0.35% in March. Meals (0.31%) registered a smaller change than in the previous month (0.62%), while snacks increased from 0.28% to 0.50% in the same period.

In Personal Expenses (0.82% and 0.09 pp), the result was influenced by the subitems banking services (2.12%) and domestic workers (0.59%).

In the Health and Personal Care group (0.36% and 0.05 pp), the highlights were health insurance and personal hygiene items, which rose 0.49% and 0.38%, respectively.

In the Housing group, which accelerated from 0.06% in February to 0.24% in March, the result for residential electricity (0.29%) includes the average increases of 15.10% and 14.66% in concessionaires in Rio de Janeiro (1.82%), both effective from March 15th. The green tariff flag remained in effect for the month, with no additional cost for consumers.

The water and sewage rate (0.44%) reflects the following increases: 6.56% in Belo Horizonte (2.20%), effective January 22nd; and 6.21% in one of the concessionaires in Porto Alegre (2.13%), effective February 23rd.

In the piped gas subitem (-0.99%), in Curitiba (-2.39%) there was a 4.01% reduction in rates, effective February 1st; in Rio de Janeiro, the -2.30% change resulted from a 4.44% reduction in rates on February 1st.

In the Transportation group (0.21%), the highlight is airfare (5.94%), the subitem with the greatest individual impact on the month's result (0.05 pp). The intercity bus fare increase (1.29%) includes increases ranging from 11.69% to 12.61% in Rio de Janeiro (12.59%), effective February 15th, and 7.27% in Curitiba (1.70%), effective February 16th.

The 0.56% increase in taxi fares is due to increases of 4.26% in Porto Alegre (3.50%), effective February 19th; 18.70% in Fortaleza (2.22%), effective January 19th; and 4.53% in Salvador (1.21%), effective January 23rd.

The urban bus fare increase (-0.59%) considers, in addition to increases, free fares and fare reductions on Sundays and holidays. The fare increases of 6.00% in Porto Alegre (5.00%), effective February 19th; 4.46% in Recife (2.74%), effective February 1st; and 20.00% in Fortaleza (2.31%), effective January 1st, were incorporated, in addition to fare reductions on Sundays.

Also due to the fare reduction on Sundays, negative changes were recorded in urban bus fares in: Belém (-1.76%), Belo Horizonte (-1.67%), São Paulo (-1.53%) and Salvador (-0.73%). Reductions on Sundays and holidays were recorded in Brasília (-12.03%) and Curitiba (-2.50%).

Fuel prices decreased by 0.03%, with reductions in the prices of vehicular gas (-2.27%), ethanol (-0.61%), and gasoline (-0.08%), while diesel oil showed a positive change of 3.77%.

Regionally, ten of the eleven areas experienced increases in March. The largest change was recorded in Recife (0.82%), due to increases in tomato prices (46.27%) and gasoline (1.37%). The smallest increase occurred in Curitiba (-0.06%), which showed a decrease in the prices of vehicle registration and licensing (-4.83%), fruits (-3.78%), and gasoline (-0.84%).

IPCA-15 and IPCA-E - Change in the Regions  

For the calculation of the IPCA-15, prices were collected between February 13th and March 17th, 2026 (reference period) and compared with those in effect from January 15th to February 12th, 2026 (base period).

The indicator refers to families with incomes ranging from 1 to 40 minimum wages and covers the Metropolitan Areas of Rio de Janeiro, Porto Alegre, Belo Horizonte, Recife, São Paulo, Belém, Fortaleza, Salvador, and Curitiba, as well as Brasília and the municipality of Goiânia. The methodology used is the same as the IPCA's, the difference being the period of price collection and the geographic scope.

Learn more about the National Consumer Price Index 15:

What is the IPCA 15? 

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