After new inflation data from G20 countries, Brazil maintains 14th position in the ranking

Brazil occupies the 14th position in the ranking that measures the highest inflations among the G20 countries. The list, made by consultancy Austin Rating, brings Turkey in first place, with 83.5% in the 12-month period, followed by Argentina (83%) and Russia (13.7%).

This Wednesday (19), four nations released their consumer price indices. South Africa recorded 12-month inflation of 7.5%, ranking 12th. The United Kingdom closed the index at 10.1% in the same period, occupying the 5th position and the Euro Zone, which registered inflation of 9.9%, is in the 7th position.

Canada, which also released inflation this Wednesday, is in a position below Brazil (7.2%), with an index closed at 6.9% in the 12-month period.

For Alex Agostini, chief economist at Austin Rating, Brazil’s position shows that the country has managed to reduce inflation a lot recently, due to three consecutive months of deflation. “The country’s positive results are mainly due to the reduction in fuel and electricity prices due to the change in the ICMS rate”, he points out. For him, this is a good sign, as it reduces inflationary inertia for 2023.

Agostini says that the fact that Brazil is at the bottom of the ranking is also due to the fact that the countries that are above are going through internal issues. “Turkey has been experiencing financial difficulties since 2018, Argentina has had economic problems for three decades, and Russia has had a conflict with Ukraine,” he says.

The economist also affirms that the European countries that are suffering from this rise in energy, natural gas, coal prices, in short, leaving inflation at the highest levels, follow the top three. “It is different from Brazil, which somehow managed to relieve the bills. But, even so, it should end 2022 with inflation close to 5.5%, well above the target ceiling, which is not healthy for the economy”, he highlights.