IPCA-15 slows to 0.32% in October, with 4.62% over 12 months
The IPCAInflationMacroChange in the price level, tracked in Brazil primarily through the IPCA index.Open in the Market Map ↗-15, a preview of official inflationInflationMacroChange in the price level, tracked in Brazil primarily through the IPCA index.Open in the Market Map ↗, rose 0.32% in October from 0.70% in September, according to IBGE, and reached 4.62% over 12 months, up from 4.47% the previous month, according to Agência Brasil and Correio Braziliense.
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In brief
The IPCAInflationMacroChange in the price level, tracked in Brazil primarily through the IPCA index.Open in the Market Map ↗-15 slowed to 0.32% in October.
Over 12 months it rose to 4.62%.
What we know
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Verified fact · material
The IPCAInflationMacroChange in the price level, tracked in Brazil primarily through the IPCA index.Open in the Market Map ↗-15 rose 0.32% in October 2026, according to IBGE, released on October 23.
Over 12 months, the IPCAInflationMacroChange in the price level, tracked in Brazil primarily through the IPCA index.Open in the Market Map ↗-15 reached 4.62%, versus 4.47% in September.
In September, the IPCAInflationMacroChange in the price level, tracked in Brazil primarily through the IPCA index.Open in the Market Map ↗-15 had risen 0.70%.
According to Agência Brasil, the 4.62% is above the 4.5% inflationInflationMacroChange in the price level, tracked in Brazil primarily through the IPCA index.Open in the Market Map ↗ target ceiling.
The monthly figure was softer, but the rising 12-month rate keeps the Central Bank cautious.
Portfolio impact
01
Juros futurosmixed
Softer month eases; 12-month rate supports rates.
Food prices pressure.
What would change the view: Full IPCAInflationMacroChange in the price level, tracked in Brazil primarily through the IPCA index.Open in the Market Map ↗ confirms.
rates25% confidence
Direction is an explanatory hypothesis, not a forecast or recommendation.
Next signals
What to watch
Full October IPCAInflationMacroChange in the price level, tracked in Brazil primarily through the IPCA index.Open in the Market Map ↗
Next Copom decision
Limits of the reporting
What remains uncertain
The preview may differ from the month's final IPCAInflationMacroChange in the price level, tracked in Brazil primarily through the IPCA index.Open in the Market Map ↗.