Brazil suffers from the highest inflation in 22 years in February and concerns in Lula’s government are growing

Brazil suffered the highest inflation in 22 years in February, with an increase of 1.31% in the month, which contrasted with 0.16% in January. The cost of electricity and...

It's an unfortunate coincidence that inflation has been a record for the month of February, since 2003, when Lula was also president. In both cases, Lula was partly to blame for inflation. The difference is that, in 2003, the blame was much more indirect than it is now. In 2003, we cannot attribute actual inflation to Lula directly. In fact, inflation skyrocketed in 2002 due to the rise of the dollar due to the fact that Lula won the election. …

With the end of the Itaipu Bonus, the HICP of the month reached its highest level since 2003. Without the so-called Itaipu Bonus that helped contain inflation in January, the National Broad Consumer Price Index (HICP), official February inflation reached 1.31%, the highest figure since March 2022, when it reached 1.62%, and the highest for a February month since 2003 (1.57%).

While Lula and his ministers react erratically, the Central Bank is sorry to allay concerns. If the rise in prices — especially food prices — already soured Brazilians' mood and caused emergency lights to turn on at the Planalto Palace, everything became worse with the release of February inflation. The Broad Consumer Price Index (IPCA) registered an increase of 1.3% - the highest for the month since 2003. Exclusive subject for subscribers. For …

Pressures concentrated in strategic sectors The post Analyst: February IPCA exposes persistent inflation appeared first on Monitor Mercantil.

Electricity bill pulls prices up after January discount restocking. High levels of food slow down, but eggs and coffee appear as main drivers