Most Brazilians felt inflation pinch hard

inflation brazil
Illustration: Talaj/Shutterstock

Over half of Brazilians (54 percent) say that inflation has altered their financial situations “a lot,” while two-thirds were forced to cut their consumption of goods and services over the past six months. In March, Brazil’s 12-month inflation reached 11.3 percent, a 19-year high.

A survey commissioned by the National Confederation of Industry shows that 95 percent of respondents felt everything had become more expensive during the period. One-fifth of respondents stopped eating out and one-third canceled subscriptions to pay-TV services.

While the prices of oil products continue to rise because of the war between Russia and Ukraine, at least 15 percent of Brazilians say they have significantly reduced their gasoline consumption. Today, the price of fuel at the pump is BRL 7.22, higher than the world average.

The greatest impact occurred among the poorest citizens. In households with an income of up to one minimum wage (BRL 1,212, or USD 259) 63 percent say they have been greatly affected and 67 percent have reduced consumption overall.

In a previous survey from November, “only” 45 percent said they had felt significant effects on their household budgets.