Brazil’s Extended National Consumer Price Index 15 (IPCA-15) rose by 4.57% y/y in February 2021, the highest figure in 20 months, after growing by 4.3% y/y in January. According to the Brazilian Institute of Geography and Statistics, which calculates the index, the February figure was influenced by a significant rise in fuel prices. Notably, gasoline prices jumped by 2.9% y/y in February, after falling by 0.4% y/y in January.

The IPCA-15 is a preview of the official inflation index, with the difference being the data collection, which is carried out from the 16th day in the previous month to the 15th in the current one.

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