The Brazilian consumer price index rose by 0,57% in September, according to a survey by the IBGE (Brazilian Institute of Statistics), after having already increased by 0,25% in August. According to Eulina Nunes dos Santos, coordinator of the index for the IBGE, the increase was determined by the growth in meat prices, which grew by 3,17%, the highest percentage since October 2013.
"Farmers complain that the pastures are still very dry," Santos said during a press conference. The aridity of the land would make it more difficult and expensive to feed the animals. Foreign demand for Brazilian meat would also contribute to higher local prices. Air flights also grew (+17,85%). During the year, inflation increased by 4,61%, reaching 6,75% and therefore positioning itself above the government target set at 6,5%. A survey conducted by Brazil's central bank has revealed that economists have cut their estimates of economic growth from 0,29 percent to 0,24 percent this year.
