A return to “caution, serenity, and perseverance” in Brazil?

Inflation in Brazil seems out of control, but the government has one sliver of good news ahead: prices are set to slow down before the end of the year

meat prices inflation
Woman at a meat market. Beef prices have skyrocketed in — leading many families to replace it for eggs or poultry as a source of protein. Photo: Fabio Braga/Folhapress

Over the next few days, when September economic indicators hit the wires, the fact that Brazilian consumer prices reached double-digit inflation for the first time since 2016 is likely to make the headlines. That will be a gift for President Jair Bolsonaro’s many adversaries, who will be given an easy and broadly relatable metric to compare his economic management to the disastrous second term of Dilma Rousseff, the center-left president impeached five years ago.

Average Brazilians have seen their electricity bills skyrocket, up roughly 20 percent this year already. Furthermore, for the first time ever, citizens are paying over...

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