Tuesday October 16, 2018
Home Uncategorized Brazil inflat...

Brazil inflation tops nine percent

0
//
25
Source: Google images
Republish
Reprint
Source: Google images
Source: Google images

Brasilia: Consumer prices in Brazil rose 0.62 percent in July, pushing the year-to-date figure to 6.83 percent and the 12-month rate to 9.56 percent, the Brazilian Institute for Geography and Statistics (IBGE) reported.

The inter-annual inflation rate is the highest since November 2003, when the figure stood at 11.02 percent, Efe quoted IBGE as saying.

The agency said inflation eased a bit in July after a 0.79 percent increase in June.

Inflation has become a major concern for the government of President Dilma Rousseff, which has responded to surging prices and budgetary red ink with an austerity package that includes deep cuts in public spending.

The fiscal measures are complemented by a tight-money policy that has raised the benchmark interest rate to 14.25 percent.

Brazil’s economy is forecast to shrink by between 1.5 percent and two percent this year.

Successive Brazilian administrations have sought to keep inflation within a range of 4.5 percent to 6.5 percent, but the central bank acknowledges that it may reach nine percent by the end of 2015.

(IANS)

 

Click here for reuse options!
Copyright 2015 NewsGram

Next Story

Illegal Loggers Threaten ‘Uncontacted Indigenous Tribes’ In The Amazon

The environmental protection agency Ibama responded by sending in patrols in May, which temporarily halted the logging.

0
Members of an uncontacted Amazon Basin tribe and their dwellings are seen during a flight over the Brazilian state of Acre along the border with Peru. VOA

Illegal loggers and militias cleared an area three times the size of Gibraltar in Brazil’s Amazon this year, threatening an “uncontacted” indigenous tribe, activists said on Tuesday.

Satellite imagery collected by Instituto Socioambiental (ISA), a Brazilian advocacy group, detected about 4,600 acres (1,863 hectares) of deforestation this year in the Ituna Itata indigenous land in northern Para state.

“This situation is very worrying,” Juan Doblas, senior geo-processing analyst at ISA, told the Thomson Reuters Foundation.

“There is a series of risks, not only to indigenous territories of uncontacted tribes, but also to other indigenous territories in the area.”

Amazon
Ecuadorian Amazon rain forest. Wikimedia Commons

The indigenous affairs agency Funai and the federal police were not immediately available to comment. The environmental protection agency Ibama said in a statement that official data on Amazon deforestation will be released in November.

Brazil’s uncontacted tribes, some of the last on earth, depend on large areas of unspoiled forest land to hunt animals and gather the food they need to survive.

They are particularly vulnerable when their land rights are threatened because they lack the natural immunity to diseases that are carried by outsiders, rights groups say.

Forest loss in Ituna Itata — from which outsiders were banned in 2011 to protect the uncontacted tribe — spiked to about 2,000 acres in August from 7 acres in May, said ISA, which has monitored the area through satellites since January.

Amazon
This Sept. 15, 2009 file photo shows a deforested area near Novo Progresso in Brazil’s northern state of Para.. VOA

South America’s largest country is grappling with scores of deadly land conflicts, illustrating the tensions between preserving indigenous culture and economic development.

ISA filed a complaint in April to federal and state authorities about forest destruction and illegal logging in the area during the rainy season, which is unusual, said Doblas.

“It was a sign that something very serious was going to happen,” he said. “It was a preparation for the invasion.”

Also Read: Spix’s Macaw Parrot from Brazil Is Now Extinct

The environmental protection agency Ibama responded by sending in patrols in May, which temporarily halted the logging, he said, adding that ISA plans to file another complaint this week, using updated data and satellite images. (VOA)

Next Story