Easter fires and inflation weighs on the Brazilian's pocket, says FGV

The call Easter inflation returned to weigh on the Brazilian's pocket and will require more creativity in the consumer time to assemble the Sunday Supper menu, alerts the Getulio Vargas Foundation (FGV). Considering only the most popular products for the date within the basket of consumer price index (CPI-10), the average high was 17.15% between April 2018 and March 2019. This segmentation of the indicator had stayed at 2.61 percent in the 12 months prior to Passover of 2018 and 0.36% in 2017. In 2016, was at 15.17%. The index this year if it took off a lot of IPC-10 for the same period, which increased 4.37 percent against 2.87% in 2018, 4.55% in 2017 and 10.37 percent in 2016. The highlight was the potato, which recorded the highest high of the period: 78.83%. The item was already pulling inflation upwards. Other highlights are also the cabbage (21.17%), cod (19.35%) and the tuna (10.36%), which have accumulated high. Nevertheless, some products have had below-average inflation adjustments determined by the IPC-10, as was the case with: candy and chocolates--not including Easter eggs-(3.64%), canned sardines (2.83%), pickled olives (2.73%), eggs (2.08%) and olive oil (1.13%). The fish may be the soda in the pocket of the consumer, since the high of fresh fish (4.67%) is in line with inflation during the period established by the IPC-10 (4.37%), highlights the FGV. But it is important to note that prices may increase when approaching Holy week, given that demand for fish increases even more during this period, says the survey. "Food has risen more in the beginning of year, too by the fact that this has been a rainy season. The climate issue has meant a challenge for crops, which ends up impacting on supply and, consequently, the price of food, "says Igor Lino, FGV researcher responsible for the survey. "What also helps to influence the index is lower comparison base, because we had two years in which the product basket of Easter rose below inflation. In the case of cod, sum the high of the dollar during the period, since the fish is imported. "source: Value