0.32%. That is how much consumer prices rose in Brazil in October, according to the preview of official inflation released on Friday (23) by IBGE, the national statistics agency. The pace slowed from September, when prices climbed 0.70%, but the grocery bill keeps getting heavier: over 12 months, the index reached 4.62% and moved back above the ceiling of the country's inflation target.

In everyday terms, a grocery basket that cost R$ 500 a year ago now costs about R$ 523, if prices track the index. Food and beverages rose 0.88% in the month and accounted for roughly 59% of October's inflation, according to Poder360. Tomatoes (24.54%), onions (13.63%), potatoes (10.96%) and rice (5.80%) led the increases, G1 reports.

Relief came from few items. Carrots got 10.67% cheaper, fruits fell 1.37% and ground coffee dropped 1.16%. Housing was the only one of the nine surveyed groups to decline (-0.10%), helped by electricity bills, which fell 0.89% as the tariff flag system, a surcharge mechanism on power bills, switched from yellow to green.

Understanding the index. The IPCA-15 is a preview of the IPCA, Brazil's official inflation gauge. It tracks prices collected between September 16 and October 14 in 11 regions, among families earning 1 to 40 minimum wages. The Central Bank watches the IPCA to assess the inflation target, currently 3% a year with a tolerance band of 1.5 percentage points in either direction, which puts the ceiling at 4.5%.

For 2026 as a whole, the preview adds up to 4.15%. A year ago, in October 2025, the IPCA-15 had risen 0.18%, just over half the current pace. According to InfoMoney, October's figure came in below market expectations.

Friday's number works as a thermometer for the full October IPCA, which IBGE will release in the coming weeks. With the 12-month rate above the target ceiling, the cost of living is likely to keep pressing household budgets in the months ahead.