High interest rates are inhibiting the consumer’s search for loans. According to a report released today (20) by the company Serasa Experian, demand for credit operations dropped 12.2% in September compared to the same month last year. This was the fourth consecutive monthly decline. 
According to Serasa, consumers with a monthly personal income of R$500 to R$1,000 are the ones who have least sought credit. All regions registered a decrease, but the retraction was more marked in the Southeast (-13.9%), in the South (-12.2%) and in the Northeast (-12%).
high interest
From March 2021 to August this year, the Selic rate – the economy’s basic interest – rose from 2% to 13.75% per year. For Serasa, the increase in credit discourages the demand for credit and impacts most lines. The company advises consumers to reevaluate the household budget and save money now to face the end of this year and the beginning of the next, periods when spending traditionally rises.
The survey is based on a significant sample of Individual Taxpayer Registration (CPF) numbers, consulted every month in the Serasa Experian database. The survey measures consumer credit relationships with financial institutions and non-financial companies.
