Amid rising food prices, Brazilian President Luiz Inácio Lula da Silva recently advised citizens to avoid purchasing overpriced groceries.
In a widely circulated online video, da Silva urged Brazilians to practice greater frugality while shopping for food. He stated, “If you go to the supermarket and think an item is too expensive, don’t buy it. If everyone did this, sellers would be forced to lower prices to make sales, otherwise, their goods will spoil.”
On Thursday, da Silva expressed concern about inflation but predicted a slowdown in price increases, expressing optimism about the overall economy. He declared, “The Brazilian economy is experiencing its best moment,” according to a Reuters report from an interview with radio stations.
While acknowledging the Brazilian real’s weakness against the U.S. dollar, Lula anticipated a currency rate adjustment, as reported by Reuters.
In January, Finance Minister Fernando Haddad projected a decrease in food prices this year, citing robust agricultural output. He explained to a local news outlet that prices remain high until agricultural production corrects the price imbalance.
Haddad further predicted that the economy would expand by 2.5% in 2025, a slowdown from the projected 3.5% growth in 2024. He stated to RedeTV, as reported by Reuters, “I believe we have the potential for 2.5% growth by curbing inflation.”