Arab Today, arab today brazil inflation climbs to 813
Last Updated : GMT 16:02:07
Arab Today, arab today
Arab Today, arab today

Brazil inflation climbs to 8.13%

Arab Today, arab today

Arab Today, arab today Brazil inflation climbs to 8.13%

Prices in Brasil
Brasília - AFP

Prices in Brasil spurted 1.32 percent in March, the biggest monthly jump in 12 years, lifting inflation in Latin America's largest economy to 8.13 percent on an annualized basis, official figures showed Wednesday.
The monthly rise was the highest since February 2003, the national statistical institute IBGE said, confirming an inflationary trend that continues to run well ahead of the government's target ceiling of 6.5 percent.
The latest uptick, the highest figure for March in 20 years, is a blow to Brazil's hopes of reinvigorating an economy struggling with sluggish growth and a corruption scandal at state oil giant Petrobras.
Prices have risen 3.83 percent so far this year.
Double-digit hikes in energy bills introduced after a tariffs review in February underpinned the overall upward trend, the IBGE said in a statement, noting an average increase of 22.08 percent for consumers.
"With these rises the consumer is paying 36.34 percent more on average this year for energy use and over the past 12 months bills are coming in 60.42 percent more expensive," IBGE said.
Brazil's leftist President Dilma Rousseff, re-elected last October but saddled with a burgeoning corruption scandal at Petrobras implicating dozens of political allies, has responded to the downturn with budget cuts.
But she has promised to protect social programs for the working class, bedrock of support for her Workers Party.
Aside from energy, key areas stoking the March price hikes were housing, up 5.29 percent; food and beverages, rising 1.1 percent; and education, up 0.75 percent.
In contrast, telecommunications fell 1.16 percent.
As prices soar, Brazil's central bank has been steadily raising interest rates, to a current 12.75 percent.
As Rousseff's administration attempts to stave off a second recession in two years, the negative numbers are piling up. Industrial production has declined, public accounts have deteriorated and joblessness is rising, albeit from historic lows.
Brazil signed off last year with just 0.1 percent GDP growth -- a far cry from the 7.5 percent seen five years ago -- and the market forecast for this year is for a contraction of 1.0 percent.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today brazil inflation climbs to 813 Arab Today, arab today brazil inflation climbs to 813

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today brazil inflation climbs to 813 Arab Today, arab today brazil inflation climbs to 813

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Girl barred from Malaysia chess competition

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday