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Savings accounts lose to inflation for 10th consecutive month in Brazil

RIO DE JANEIRO, BRAZIL - The net yield of savings account, after discounting inflation as measured by the Broad Consumer Price Index (IPCA) over 12 months through June 2021, is a negative -6.26%.

This means that people who left their money invested in savings accounts during this period have lost purchasing power, according to a survey conducted by Economatica, a financial information platform.

Brazilian savers have been continually suffering accumulated losses in purchasing power since September 2020.

Therefore, the loss of purchasing power in June 2021 is the 10th in a row. The country had not registered a drop in . . .

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