Brazil: To curb inflation, government zeroes import tax on food

According to the Brazilian Institute of Geography and Statistics (IBGE), which calculates the IPCA, the accumulated inflation over 12 months is 12.13%.

RIO DE JANEIRO, BRAZIL - On May 11, the Brazilian federal government announced it would zero the import tax rate on seven categories of food products. The decision was taken by the Executive Management Committee of the Foreign Trade Chamber (Gecex/Camex) of the Economy Ministry.

In a press conference to detail the measures, the ministry's executive secretary, Marcelo Guaranys, said that the measure aims to contain the advance of Subscribe to our Premium Membership Plan. Already Subscribed?