RIO DE JANEIRO, BRAZIL - The average income of Brazilians is the lowest in 10 years and stands at R$2,548. In 2012, the average wage was R$2,581 (US$508). With inflation at 12% in the last 12 months and an interest rate of 12.75% (which is expected to rise further), further loss of purchasing power is expected.
There are a few explanations for the drop in income. One is high inflation at a time of economic loss due to the pandemic. While prices are rising, there is no parallel to a rise in salaries.
Another reason . . .