Brazilians are blaming President Luiz Inacio Lula da Silvaand and his government for the inflation. Recent surveys showed that three-quarters of the population now say their salaries are not keeping up with the pace of inflation. About 57% of respondents say that these are the consequences of Lula’s economic policy.
Price increase caused public dissatisfaction. Nearly 54% of Brazilians are disapproving of the president. It is 10% more than it was in April 2024. The government responded by implementing measures such as abolishing import levies on staple foods and giving the poorest payers tax holidays to soften the economic burden.
Despite these efforts, consumer prices in March registered their biggest one-month rise in three years as essentials like coffee and eggs rose by over 10%. This inflationary movement affected all social classes, with almost 87% of Brazilians being highly concerned about inflation.
Recent decisions of the central bank indicate the challenges anticipated. The key rate was raised to 14.25% in an attempt to curb inflation, demonstrating the scale of the crisis. The central bank projects that inflation will be of its 3% target by the third quarter of 2027, indicating a long way to economic equilibrium.
