Inflation in Brazil: IPCA over 12 months
- Data for: Sep 2026
- Sep 2025: 5.17% (−0.60 pp)
- Source: IBGE, via Central Bank of Brazil (SGS series 433)
The IPCA, Brazil's official inflation rate, rose 4.58% over the 12 months to Sep 2026. A year earlier, the 12-month figure was 5.17%.
Series used: monthly IPCA change (SGS 433). Data updated on .
IPCA month by month, last 12 months
Monthly change in the IPCA, in %. Source: IBGE, via the Central Bank of Brazil.
What the market expects
In the Central Bank's Focus survey of Oct 23, 2026, the median market forecast for the 2026 IPCA was 5.19%, and 4.34% for 2027. It is an analyst expectation, not official data, and it changes every week.
Value at the end of each year
| Year | IPCA, accumulated over 12 months |
|---|---|
| 2026 (through Sep 2026) | 4.58% |
| 2025 | 4.26% |
| 2024 | 4.83% |
| 2023 | 4.62% |
| 2022 | 5.79% |
| 2021 | 10.06% |
| 2020 | 4.52% |
| 2019 | 4.31% |
| 2018 | 3.75% |
| 2017 | 2.95% |
| 2016 | 6.29% |
| 2015 | 10.67% |
Run the numbers
Analysis on this topic
What the IPCA is
The Extended National Consumer Price Index (IPCA) is calculated by IBGE and measures the change in prices of a basket of goods and services bought by households. It is the country's official inflation index and the reference for the inflation target.
How we compute the 12-month figure
The 12-month figure compounds the last 12 monthly changes: (1 + month 1 rate) × (1 + month 2 rate) × … − 1. It is not the sum of the monthly rates.
The inflation target
The current target is 3%, with a tolerance of 1.5 percentage points either way. When the 12-month IPCA falls outside that band, the Central Bank has to explain why.
Frequently asked questions
What is the latest value of "Inflation (IPCA)"?
IPCA, accumulated over 12 months: 4.58%, for Sep 2026. A year earlier (Sep 2025): 5.17%.
When is the next IPCA released?
IBGE usually publishes the previous month's IPCA in the first half of each month. This page is updated after each release.
What is the difference between the IPCA and the IGP-M?
The IPCA measures consumer prices. The IGP-M, from FGV, combines wholesale, consumer and construction prices, so it moves more. It is widely used in rental contracts.
Where does the "Inflation (IPCA)" data come from and when is it updated?
The data come from IBGE, via Central Bank of Brazil (SGS series 433). This page shows the figure for Sep 2026 and the base was updated on Oct 26, 2026. The source may revise numbers already published.
Download the data and cite it
Full series in open format: CSV. Unit: % (accumulated over 12 months).
Updated . How to cite: dadobruto.com. IPCA, accumulated over 12 months. Data: IBGE, via Central Bank of Brazil (SGS series 433). Updated Oct 26, 2026. https://dadobruto.com/en/brazil-in-numbers/ipca-inflation
License: You may copy and republish the data and charts, including commercially, under the CC BY 4.0 license. The condition is to credit "dadobruto.com" and, when published online, to link to dadobruto.com or to the page the data came from. The original numbers follow the rules of IBGE, via Central Bank of Brazil (SGS series 433).
Also searched as: official inflation, Brazil inflation rate, consumer price index Brazil.