"Customers at a supermarket on Avenida Rua Bolivar in Rio de Janeiro, Brazil, are positively surprised at the price changes they've been experiencing over the past few weeks, as they are now paying significantly less for coffee and meat, for example. "Finally, some good news in these difficult times," says shopper Julienne Freitas, while speaking with DW. Her experience is not anecdotal, but rather echoed by a recent survey from Brazil's Inter-Union Department of Statistics and Socio-Economic Studies (DIEESE)"
"Part of the decline comes from natural cycles typical for agriculture, says Leandro Dias from the agricultural commodities trading platform AgroDeri in Sao Paulo, Brazil. "Coffee had a strong harvest, which increased supply and pushed down prices. With beef, the livestock cycle is in a phase with plenty of cattle ready for fattening, which the domestic market is now feeling," he told DW."
Food prices fell in 24 of Brazil's 27 regional state capitals in August compared with July. Basics such as tomatoes, rice, meat and coffee became cheaper. The decline reflects agricultural cycles and supply increases, including a strong coffee harvest and a livestock cycle with many cattle ready for fattening. Reduced external demand linked to US tariffs on Brazilian imports also contributed by lowering export markets for those goods. Excessive tariffs raised prices abroad while easing domestic prices in producing countries. Shoppers reported significant price drops for coffee and meat and expressed relief amid difficult economic conditions.
Read at www.dw.com
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