Brazil Keeps Close Watch over Poverty, Inflation

Brasilia, May 7 (Prensa Latina) A permanent watch over inflation, a new program to fight poverty and the elimination of three soccer teams in the South American Libertadores Cup 2011 made headlines in Brazil this week.

President Dilma Rousseff and other top officials expressed their determination to adopt all necessary measures to keep inflation in check.

Inflation is a recurring issue in the president’s latest appearances, and Rousseff referred to it again in remarks to journalists at the end of a working meeting with German President Christian Wulff, who is on a state visit here to strengthen bilateral links.

“Brazil is growing, developing, and this includes tens of millions of Brazilians, but we also have the commitment to resist inflationary pressures, both external and internal,” she said.

President of the Central Bank Alezandre Tombini said in a Chamber of Deputies public hearing that there are common factors affecting world inflation, and indicated that emerging countries are the hardest hit by skyrocketing food prices, especially affecting the family basket.

However, he said that in the next few months inflation should start to fall and predicted that it 2011 would close within the set target, between 2.5 and 6.5 percent, or an average of 4.5 percent.

On Friday, a report drafted by the Brazilian Geography and Statistics Institute said that inflation, as measured by the broad Consumer Price Index, reached 6.51 percent in the past 12 months ending in April, slightly above the maximum target set by the government.

However, Finance Minister Guido Mantega was optimistic about the broad CPI of April, which reflected a slight fall compared to March, and said it indicates that inflation had hit bottom.

Minister of Social Development Tereza Campello revealed a study carried out by the Brazilian Geography and Statistics Institute which found that 16.27 million Brazilians are living in extreme poverty, and will benefit from a new government program.

She said that identification of these poorest Brazilians was recommended to include them in a program called Brazil without Misery, which will be presented soon.

“We are not talking about the continuation of a plan, but rather about a task force to wipe out destitution in four years,” she said.

Meanwhile, the soccer teams Cruzeiro, Fluminense, Internacional and Gremio were eliminated from the South American Libertadores Soccer Cup 2011. Only the Santos team remains in the competition.

2 responses to “Brazil Keeps Close Watch over Poverty, Inflation

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