Onion jumps 130%, and gasoline drops 25.8%; see the biggest highs and lows of the IPCA

In 2022, the Brazilian spent more to eat and less to fill the car tank. This is what the data from the IPCA (National Index of Consumer Prices) released this Tuesday (10) by the IBGE (Brazilian Institute of Geography and Statistics) indicate.

Among the 377 sub-items (goods and services) that make up the country’s official inflation indicator, the biggest price increases came from food items.

The onion had the most intense variation in the accumulated of 2022. The product shot up 130.14%. According to the IBGE, the advance can be associated with a combination of factors.

Reduction in planted area, increase in production costs and adverse weather are among them.

Yams (62.96%), apples (52.03%), potatoes (51.92%) and baby food (42.14%) followed the highest rises in the IPCA.

The year 2022 was marked by adverse weather in the country, with records of drought and heavy rains in food-producing regions.

The Ukrainian War generated additional pressure. The conflict raised production costs and prices for agricultural commodities on the international market.

The other end of the list, the one with the biggest drops in the IPCA, was occupied by gasoline. In the accumulated of 2022, the product fell by 25.78%.

The IBGE pointed out that gasoline prices fell more significantly between July and September, as a result of cuts in refineries and the law that limited the collection of ICMS (state tax) on fuel.

Ethanol followed the steepest declines in the IPCA, down 25.42% in the year.

Residential electricity accumulated a drop of 19.01% in 2022, the third most intense in the index. The electricity bill was also affected by the ICMS reduction.

Highest rises in the IPCA in 2022, in %

Biggest declines in the IPCA in 2022, in %