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The IPCA-15 (Extended National Consumer Price Index 15) measures the monthly change in prices for a fixed basket of goods and services in Brazil, covering the period from the 16th of the previous month to the 15th of the current month. It is considered the most important leading indicator for the official monthly inflation rate (IPCA). The Central Bank of Brazil closely monitors this data to adjust its Selic interest rate target.
Calculated by the Brazilian Institute of Geography and Statistics (IBGE) using a survey of retail prices in several metropolitan areas, weighted by household consumption patterns.