FX.co ★ Brazil’s IPC-Fipe Inflation Eases to 0.40% in April, Down from 0.59% in March

Brazil’s IPC-Fipe inflation index slowed in April 2026, with consumer prices in São Paulo rising 0.40% month over month, down from a 0.59% increase recorded in March 2026. The fresh data, updated on 05 May 2026, indicate a moderation in price pressures compared with the previous month.

On a month-over-month basis, the April figure shows that inflationary momentum has cooled relative to March, when the index had accelerated to 0.59% versus the month before. The IPC-Fipe, which tracks consumer prices in the São Paulo metropolitan area, is closely watched as an early gauge of inflation trends in Brazil.

The April reading suggests a mild deceleration in consumer price growth, which may support a more favorable inflation backdrop if the trend persists. However, the data only cover changes through April, and further readings will be needed to assess whether this slowdown in monthly inflation consolidates over the coming months.