Rio, March 24, 2004 (Agência Brasil) - The Broad Consumer Price Index-15 (IPCA-15) rose 0.40% in March, less than the 0.90% increase in February. The decline is the result of deceleration in items such as monthly school fees and food prices, according to a report released today by the Brazilian Institute of Geography and Statistics (IBGE).

Besides the substantial difference in monthly school fee adjustments, which dropped from 8.17% in February to 0.69% in March, the increase in food prices fell from 0.65% to 0.26%, with various products presenting even smaller hikes.

Fuel alcohol prices declined 8.46%, and gasoline prices fell 0.42%, after rising 1.19% and 0.61%, respectively, in February. The price of cooking gas rose 0.57%, compared to a 1.14% increase in February.

The IBGE points out that, besides these factors, items such as electricity and urban bus transportation were not an onus on family budgets in March.

The IPCA-15 is calculated following the same methodology as the IPCA, but the time interval extends from the 15th of one month to the 15th of the next, and the index serves as a preliminary estimate of the IPCA, used by the government to establish its targets for inflation.

All of the 11 regions in which data are collected presented lower rates than in January and February. The highest index was in Belem (0.86%), and the lowest was in Goiânia (-0.01%).

Translator: David Silberstein