Finance Minister Fernando Haddad evaluated on Tuesday that pressure on food prices should decrease in the coming months with the drop in the dollar and the record crop by 2025.
“The dollar was $ 6.10, is $ 5.80. This already helps a lot, ”said the minister when asked about the latest minutes of the Monetary Policy Committee (Copom), which pointed to an “adverse scenario” for food inflation in the medium term.
Haddad said he was “very confident that this year’s crop, for all the reports I have had from Agro staff, It will be a very strong crop. This will also help. ”
The Copom minutes pointed out that food prices have significantly rose, according to other factors, the drought observed over the past year and the raising of meat price, also affected by the ox cycle.
The Minister of Finance noted that economic variables such as exchange and inflation “settle on another level, and this will surely favor.” He recalled that the Government and Congress promote a restraint of R $ 30 billion in the budget, with the objective of reducing tax pressures on monetary policy.
Copom estimates that 12 -month inflation should be maintained above the Central Bank goal by June, which would configure “non -compliance with the goal”, according to the new continuous goals model.
For Haddad, this new model, which foresees a continuous search for staying in the tolerance range, “allows for better accommodation” of monetary policy by the BC.
The current inflation target regime determines that the index should be 3% in 12 months, with bands of 1.5 pp up or down. If it is above the band’s limit for more than 6 months in a row, there is non -compliance with the goal.
