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BRAZIL: Government to Seek Further Solution to Food Inflation, Without Subsidies

BRAZIL
BulletEM BulletEmerging Market News
  • "BRAZIL PRESIDENTIAL CHIEF OF STAFF COSTA: GOVERNMENT HOPES FOR BUMPER CROP THIS YEAR TO LOWER FOOD PRICES
  • "HIGHER FOOD SUPPLY WOULD LOWER MARKET-BASED PRICES" (Reuters)
  • Costa hit the headlines earlier in the week amid discussions being held to lower food prices. On Thursday, there were further headlines that subsidies could be used, although this seemed to go against the most recent scrutiny of the fiscal situation in Brazil.
  • Indeed, overnight Finance Minister Fernando Haddad said there is no need to use fiscal policy to contain food inflation, telling reporters that talk of subsidies to combat rising prices is “just gossip.” Instead, "we need to improve competition, the business environment, and our imports,” Haddad said.
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  • "BRAZIL PRESIDENTIAL CHIEF OF STAFF COSTA: GOVERNMENT HOPES FOR BUMPER CROP THIS YEAR TO LOWER FOOD PRICES
  • "HIGHER FOOD SUPPLY WOULD LOWER MARKET-BASED PRICES" (Reuters)
  • Costa hit the headlines earlier in the week amid discussions being held to lower food prices. On Thursday, there were further headlines that subsidies could be used, although this seemed to go against the most recent scrutiny of the fiscal situation in Brazil.
  • Indeed, overnight Finance Minister Fernando Haddad said there is no need to use fiscal policy to contain food inflation, telling reporters that talk of subsidies to combat rising prices is “just gossip.” Instead, "we need to improve competition, the business environment, and our imports,” Haddad said.