The Brazilian government facing the inflationary challenge, as in most of the rest of the world, and particularly when it comes to food prices and the millions of Brazilians who survive on a daily ration, has decided to temporarily reduce tariffs on eleven products. The decree came into effect on May 12 and will continue until the end of the year.
Food inflation in Latin America and the Caribbean reached 8.9% in June compared to the same month in 2011, which means the highest so far this year, according to a report from the UN Food and Agriculture Organization, FAO.
The inflation for food items in Latin America and the Caribbean reached 7.4% in May, according to FAO. The sharp rise in the regional prices was attributed to an even sharper increase in food prices which on a world wide basis rose 37% in May compared to world food prices in May 2010, the FAO said in a report from its regional headquarters in Chile.
Food inflation in Latin America and the Caribbean decreased to 1.9% during the first quarter of this year according to a report from the regional office from the UN Food and Agriculture Organization, FAO, released Monday.