Prices accelerated compared to 2016, albeit at a much smaller scale than last year.

Easter products were up 0.36% compared to last year. The rate is below the accumulated inflation of 4.55% recorded between April 2016 and March 2017. The survey published by FGV’s Brazilian Institute of Economics (IBRE) showed that the items among typical Easter food products with highest variations were fresh fish (15.89%), wine (9.96%) and cod (5.73%).

“Prices accelerated compared to 2016, albeit at a much smaller scale than last year. In 2016, Easter product prices rose by approximately 15%, compared to 0.36% this year. It was a very modest upswing,” said André Braz, coordinator of IBRE’s Consumer Price Index (CPI).

According to the economist, however, consumers must keep an eye on price variations as we move closer to Easter day. “The survey doesn’t show exactly what prices consumers will find on Easter day. We only analyzed price variations leading up to March this year. On the day before Easter, higher demand may drive fresh fish prices above the 15% increase recorded.”

According to Braz, the good news is that the prices of other Easter products dropped, balancing out the results. Some of these include potatoes (-47.54%), canned sardines (-1.98%) and kale (-0.18%).

Easter eggs were not covered by the survey, but prices may rise at a milder rate compared to 2016, according to the economist. “According to the data from recent years, Easter egg prices usually rise around 10%. This rate may have been milder this year, given the economic downturn. It is important to check prices both online and in stores. We are still facing a recession, many people are unemployed, and the market now has the task to attract consumers to stores. And you can only do that with promotions,” said the economist. 

FGV News migrated to FGV’s Portal, in May 2017.
What would you like to do?