When you actually know at home, it’s this bad, okay? So this story is out of, well, I don’t even know what’s, I don’t even know where it is. It says here, Brazil’s inflation rises to 4.14% in March, driven by higher fuel and food costs. Now, quite frankly, I believe this is gonna be the story all around the world in the next 30 to 60 days, but check this out. Annual inflation in Brazil accelerated a 4.14% in March, pushed higher by rising fuel and food prices. The Brazilian Institute of Geography and Statistics said it’s getting bad.

On a monthly basis, prices rose 0.88% in March. Again, I don’t believe them. It said here, this was 0.18% percentage points above the previous month and two categories with the greatest impact were transportation with a monthly increase of 1.6% and food which rose 1.5%. The main driver of the acceleration was higher fuel costs directly linked to international oil market volatility caused by the war between the US and Iran. Again, still everybody needs an excuse, right? And remember, next month’s numbers are gonna be worse because the next month after this was worse, right? And this is gonna put a pinch on spending in the local economies.

It says here, President Luis Indiazo Lucha del Silvias, that’s a long name, government has deployed a package of measurements measures to shield Brazilian consumers from the pass-through of international crude prices. It’s suspended the federal PIS and coffins taxes on diesel imports and sales. Isn’t that nice? Hey, I got an idea, President Luis, just get rid of the tax altogether. If you live in Brazil and you like that, put something down below. It says here, in parallel, the government’s imposed a 12% levy on crude oil exports in March to fund the tax exemptions and fuel subsidies, a measure that was provisionally suspended this week by a federal judge in Rio de Janeiro following a legal challenge by Shell, Total Energies, in-court responded, I’m not even gonna try.

Okay, my point is this, why don’t the government just stop exporting oil? Say to the oil companies, hey, if you want to drill our oil in Brazil, it should stay in Brazil. That would cause oil to go super low. Well, they’re not gonna do that, but at least the people of Brazil should go, wait a minute, that is a good idea. However you say it in your language, I’m very, I can’t even spell and read in English, and that’s where I’m from. I’m from English. Alright, point being is that governments, if they really wanted to lower fuel prices, they’d stop exporting and saying, hey, keep it here.

There are other countries that actually do that, and they have record low fuel prices. They don’t have that issue, they’ve just got other ones. Point is, everyone’s got issues. Alright, for everyone watching the Economic Ninja channel, thank you so much for hitting the subscribe button. The Economic Ninja is out. [tr:trw].

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