IPCA-15 annualized rate went from 4.37% to 4.64%; food and transport pressured the index
The IPCA-15 (Extended National Consumer Price Index 15), considered the preview of official inflation, was 0.62% in May, after reaching 0.89% in April. The data was released by the Brazilian Institute of Geography and Statistics this Tuesday (May 27, 2026).
The accumulated rate in 12 months went from 4.37% in April to 4.64% in May. In 2026, the index totals 3.02%. The result was above the estimates of 8 analysts interviewed by Poder360, whose median was 0.53% in the month.
Of the 9 groups of products and services researched, the most notable Food and drinkswith the highest variation (1.38%) and impact (0.30 pp).
Right away, Housing (1.03% and 0.15 pp) e Health and personal care (1.05% and 0.14 pp) had the biggest influence on the overall result. The other variations were between -0.33% (transport) e 0,50% (Personal expenses).
ABOVE THE GOAL
The IPCA-15 is calculated based on prices collected between the 16th of the previous month and the 15th of the reference month. The indicator works as a preview of the IPCA, the country’s official inflation index.
The inflation target defined by the National Monetary Council is 3%, with a tolerance range of 1.5 percentage points up or down. As inflation for the year was 4.64%, it remained above the target.
The financial market increased its projection for the IPCA in 2026, from 4.92% a week ago to 5.04% on Monday (May 25), according to the most recent data from the Central Bank’s Focus bulletin.
