Brazilian income drops record in 2021 and reaches lowest value in 10 years

Brazilian income drops record in 2021 and reaches lowest value in 10 years

Inflation has a greater effect on poor families, who earn just R$39 per month

In the last nine years, Brazilians of all lace bands, became impoverished. But the loss was much greater among the poorest. At the bottom of the social pyramid, among the poorest 5%, income has been reduced by 48%, or practically half. The data were released this Friday, 10th, by the Brazilian Institute of Geography and Statistics (IBGE)

And the loss was significant at the turn of 2020 to 2021, a drop of 33.9% in just one year, largely as a result of the increase in inflation and the reduction in the amounts paid for Emergency Aid.

Thus, the poorest families, who earned an average of BRL 75 per month in 2012, saw this amount shrink to BRL 59 in 2020 and then to just BRL 39 last year.

At the other end, the richest 1% of the Brazilian population had a loss of income of only 6.9% since 2012. These families earned BRL 17,128 that year, saw their income drop to BRL 17,033 in 2020 and, later, to BRL $15,940 last year.

Source: O Globo Agency

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