Ten of the fifteen products monitored by IPEA’s economic staff were also seen to rise in the amount exported, not to mention an increase in the value of most commodities sold overseas.
Three sectors in the economy had their predicted growth revised. Industry should increase 4.9 percent in 2021; services 4.5 percent. Agriculture saw its expansion altered from 1.2 to a 1.2 percent decline.
The greatest inflationary pressures accumulated in the year came from lower-middle income families, who have monthly incomes ranging from R$2,702.88 to R$4,506.47.
“The two main grains, soy and corn, will have a positive production estimate, which may contribute to a greater offer in the domestic market”, says the researcher.
Brazil’s gross domestic product (GDP) is expected to grow 1.1 percent this year and 2.3 percent in 2020, as per forecasts by the Institute for Applied Economic Research (IPEA), released in Rio de Janeiro today (Dec. 19).
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