RIO DE JANEIRO, BRAZIL – According to the survey, 24% of respondents have stopped eating out, 31% have reduced their consumption of red meat and 19% have reduced the amount of fruits and vegetables in their diet.
The effects of inflation were felt by 95% of the population in the last six months, according to a survey conducted by the FSB Research Institute on behalf of the CNI (National Confederation of Industry).
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More than half (64%) of respondents said they had reduced their spending. Of those, 49% said they had made large or very large cuts.
Between April 1 and April 5, 2,015 respondents were surveyed. The margin of error is 2 percentage points higher or lower.
The survey shows that 76% of Brazilians believe that their financial situation has been affected by inflation, and 66% believe that inflation will increase in the next six months.
There is a large difference between the incomes of those who say they believe inflation will increase in the next few months: 71% of those who earn 1 to 2 minimum wages versus 55% of those who earn more than 5 minimum wages.
Compared to previous economic crises, the current economic situation is considered as serious or more serious by 81% of the population. According to the CNI, the population over 60 years of age, which has faced high inflation and several economic plans, is perceived the worst.
“The war in Ukraine has increased uncertainty in the global economy, driving inflation and raising fears of economic setbacks around the world,” said CNI President Robson Braga de Andrade.
“Faced with this difficult and undesirable situation, Brazil must take the right measures to promote economic growth, job creation and increase the income of the population. The most important of these is tax reform. We can’t run away from that.”
High inflation affected purchases in several segments:
- 34% stopped buying building materials;
- 29% canceled cable TV;
- 12% have lowered their cell phone bill;
- 24% stopped eating out;
- 25% discounted meals away from home;
- 23% stopped buying electrical appliances;
- 15% stopped using fuel;
- 16% reduced their spending on fuel;
- 15% stopped buying clothes and shoes;
- 27% reduced their purchase of clothing and shoes;
- 14% said they stopped using public transportation;
- 31% reduced their consumption of red meat;
- 19% reduced the amount of fruits and vegetables in their diet.