Brazil's food inflation rate was 7.69% last year, the fifth highest in the G20

Published Feb 2, 2025

Tridge summary

In 2024, Brazil's food inflation rate was 7.69%, the fifth highest among G20 members according to a report by Austin Ratings. The overall inflation rate was 4.83%, the fourth highest. The increase in food prices, due to climate change and potential tariffs from the US, is affecting the economy and causing concern, particularly for the poor. Brazilian President Lula plans to discuss the issue with producers and traders. The high cost of oranges has led to suggestions for people to replace them with other fruits.

Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Brazilian website "poder360" reported on January 27 that according to the latest data released by the National Institute of Geography and Statistics (IBGE), Brazil's food inflation rate was 7.69% last year. A survey report by Austin Ratings pointed out that among the G20 members, Brazil's performance in 2024 was only better than Argentina (94.7%), Turkey (43.6%), Russia (11.1%) and India (8.4%); Japan (6.4%) and Mexico (4.4%) performed better than Brazil. The survey showed that in 2024, Brazil's overall inflation rate including other items was 4.83%, which also ranked fifth among the G20 members. If only food price changes in the domestic market are considered, Brazil's food inflation rate will reach 8.23% in 2024. Alex Agostini, chief economist of Austin Ratings Agostini pointed out that the rise in food prices has a great impact on the overall inflation rate. He said: "The situation in most countries around the world shows that food inflation is related to the overall ...

Source: Foodmate