IPCA: how Brazil measures official inflation
Who calculates it, what goes into it and how to follow the index monthly with official data.
IPCA (Broad National Consumer Price Index) is calculated monthly by IBGE and is the official index used in the Central Bank's inflation targeting system.
What it measures
The index tracks price changes of a basket of goods and services consumed by families earning 1 to 40 minimum wages — food, transport, housing, health, education and other groups.
12-month accumulated
The figure most quoted in the news is the 12-month accumulated rate, showing how much prices rose over the last year:
Source: Banco Central do BrasilUpdated on Sep 1, 2026
Why follow it
Comparing your investment returns with IPCA shows whether you are actually gaining purchasing power.