Brazil's Food Prices Increased Over 15% In 2021

On Thursday, the Brazilian Institute of Geography and Statistics (IBGE) reported that the national price of food products increased above 15 percent last year.

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Carrots and tomatoes' costs lead the increase, with a 195 percent and 117.48 percent rise, respectively. The second most expensive food group was vegetables, which had a 35.76 percent increase.

Prices of tubers and roots like potatoes and cassava increased by 68 percent, while Cabbage is now 60 percent more expensive than a year ago.

Experts warn that this situation is likely to worsen due to supply chains and maritime transport disruptions prompted by the Russian-Ukrainian armed conflict.

The war is also likely to affect Brazil's fertilizers acquisition for national harvest because this country imports at least 85 percent of these products from Russia and Ukraine.

“Economic sanctions against Russia prevent the arrival of these inputs to the country,” the IBGE warned, stressing that fertilizer usage is essential to ensure the success of harvests.

Due to this situation, the United Nations Economic Commission for Latin America and the Caribbean (ECLAC) projects a barely 0,4 percent economic growth for Brazil.