Good morning! Today, inflation begins taking its toll on Brazil’s rich, with rising prices of high-ticket items. The government manages to pass its decisive budget bill, freeing up money for Bolsonaro’s re-election push. The president axes high-ranking marshal over pursuit of far-right blogger.
🙏 We need you! We are working on an in-depth report on the main challenges facing Brazil in 2022, similar to this report published in January. We’d like to ask you to answer a small survey so we can cater this content to our readers’ needs. It takes just 3 minutes to fill out, and there’s a surprise for you at the end! Answer now!
After hitting the poor, inflation now gets to the rich
The Brazilian Institute of Geography and Statistics (IBGE) publishes October’s official inflation rate today — and the numbers should continue at alarming levels. The mid-month consumer price index IPCA-15 came in at 1.2 percent, the highest in 26 years.
What is happening. Earlier this year, inflation weighed disproportionately more on the poor — as price hikes were largely confined to electricity bills and food products, which make up a large part of low-income families’ basic basket of goods and services.
- But as...