Brazil has the fourth-highest G20 inflation according to the OECD

G20 inflation OECD
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Soaring prices are a truly global phenomenon, but some countries have been hit harder than others. A new report by the OECD, a club of wealthy nations, analyzed inflation among G20 economies. Only in Turkey, Argentina, and Russia have consumer prices outpaced Brazil.

The G20 average for yearly inflation stood at 8.8 percent in the year ending in May, said the OECD. The Brazilian benchmark consumer price index, on the other hand, hit 11.73 percent in the same period.

Food prices continue to be one of the key drivers of inflation in Brazil. 

A survey carried out by an association of meal-voucher companies shows that eating at a bar or restaurant has become 17.4 percent more expensive for workers since the pandemic started. 

Between February and April of this year, a meal consisting of a main dish, a drink, dessert, and coffee cost on average BRL 40.64 (USD 7.50) — just over 3 percent of the monthly minimum wage.

Brazilian workers have been trading a full meal for sandwiches and ready-to-eat snacks, which can have negative health consequences. According to a survey done by consulting firm Kantar, a full lunch cost on average four times more than a snack during Q1.