Inflation in Brazil ended 2020 at 4,5% the stats agency IBGE revealed on Tuesday, above the central bank's target, with food prices rising, 14,1%, the most in two decades.1 comment
Black beans are up nearly 30%, beef about 40% – Brazilians are facing a skyrocketing rise in food prices, caused by record exports to China and strong domestic demand. This rebound, amid the economic and social crisis caused by the new coronavirus pandemic, has led the president, Jair Bolsonaro, to ask the owners of supermarkets to show patriotism and keep their profit margin as low as possible.
Ecuadorean authorities began arresting shopkeepers for raising food prices as indigenous groups clashed with security forces on Sunday in the fourth day of protests against President Lenin Moreno's austerity measures.
Consumer prices in Uruguay during July increased 0.77% while twelve-month inflation reached 8.75%, which is the highest since last February, and well ahead of the 8.21% to June, according to the latest release from the country’s National Stats Institute, INE.
Brazilian Finance Minister Guido Mantega said on Wednesday that inflation has peaked and indicators are pointing to a retreat to a lower level. Consumer prices rose in October at their fastest pace since April due to higher food prices, government data showed, though a measure of wholesale costs suggested relief should arrive in coming months