Published On: Mon, Oct 18th, 2021
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Brazil Suffers Inflation in the Wake of Pandemic Restrictions and Droughton October 18, 2021 at 6:47 pm

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With inflation hitting 10 percent, Brazilians are dealing with significantly higher electricity and food prices, brought about by the economic consequences of pandemic restrictions and a historic drought. The country’s National Confederation of Commerce of Goods, Services, and Tourism (CNC) published a list of 15 common consumer goods that contributed to the significant inflation rate, which hit double digits as of September this year. Fabio Bentes, the senior economist for the CNC, told The Epoch Times that inflation is impacting more than just consumer items. “In addition to the high level of inflation, the composition of general price indices in Brazil, concentrated on significant increases in electricity and fuel, raises the uncertainty as to whether we will overcome this scenario,” said Bentes. The CNC noted significant price variations in all consumer items in a study released on Oct. 1, with bread being the “most modest” at 20.8 percent. The other items impacted by significant price …

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