Research says that 93% of Brazilians have felt prices rise since the beginning of the year

Brazilians have been feeling the impact of inflation since the beginning of the year and this has impacted the consumption of food and household items, according to the Radar survey, by the Brazilian Federation of Banks (Febraban), released this Wednesday (15). ).

According to the survey, carried out in partnership with Ipespe, 93% of Brazilians stated that the price of the products has increased or has increased significantly in relation to the beginning of this year.

The number is above 90% in all income brackets, and 96% among those earning more than five minimum wages.

Consequently, 78% of respondents pointed out that the consumption of food and other household items is the one that has been most impacted by the acceleration in prices.

“Inflation is Brazil’s number one enemy. It is a more serious phenomenon here because, for nine consecutive months, annualized, it has been surpassing the double-digit range. In addition, it is very widespread and has been reaching especially the less favored classes”, says in a note the president of Febraban, Isaac Sidney.

“It is also more serious because inflation has structural factors, which are among us, such as the weak fiscal framework that, from time to time, inspires care again.”

On economic perspectives, 51% of respondents believe that their financial and family life will only recover after 2022, or believe that it will not.

Altogether, 77% are pessimistic about the economic recovery, and 66% have negative expectations for growth ahead.

The survey also asked what respondents intended to do about money in their pockets. 31% of them said they would buy a property, 16% would use the funds for renovations, and 20% said they would invest the money in savings. Another 18% cited investments in other investments.

Financial life

In another section, the research raised questions about the evaluation of banks by Brazilians. According to the survey, there was a decline in relation to previous measurements, but 57% of Brazilians trust banks.

Still, 55% trust fintechs, and 50% trust private companies.

Also according to the survey, 54% of respondents see a positive contribution of the banking sector to the development of the Brazilian economy, and 50%, an aid in facing the covid-19 pandemic.

Radar Febraban also asked about the contribution of the financial sector to the business or professional activity of respondents, and for 44% of them, this contribution was positive. 31% rated the contribution as neutral, and 14% as negative.

The survey also found that the percentage of Brazilians who were victims of scams or fraud attempts increased.

The total increased from 21% in September last year to 31% in the current survey.

Men were the most affected (33%), as well as individuals with income above five minimum wages (41%) and over 60 years old (35%).

Card cloning was the most common scam, reaching 64% of respondents, 16 percentage points higher than in December last year.

Quotes to scams via WhatsApp grew from 24% to 25% in the same period.

The Febraban survey in partnership with Ipespe was carried out between May 21 and June 2, and interviewed 3 thousand people in the five regions of the country.