O increased food prices is one of the great villains of the Brazilian families’ budget, which are resorting to wholesalers to dribble the famine.
The movement was captured by the research of Brazil Panels Consultoria, in partnership with Behavior Insights. According to the survey, 41.8% of Brazilians started buying food from wholesale networks to avoid higher prices.
The study also showed that the cost of living has increased in the last 12 months to 95.1% of respondents. Only 3% consider prices remained stable and 1.9% notice a reduction.
Food and drinks are largely responsible for pulling the last Inflation preview measured by the Brazilian Institute of Geography and Statistics (IBGE).
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According to 94.7% of the people who responded to the survey, the food sector This is the one that suffers the most pressure.
The perception of acceleration in price increases is also high in the research. For 97.2% of consumers, food values rose rapidly, making inflation a daily concern.
Other behavioral changes were observed in the survey: neighborhood markets became more used by consumers (17.4%) and street fairs had greater demand from interviewees (5.4%).
Claudio Vasques, CEO of Brasil Panels, explains that the increase in prices have a drastic effect on the consumption of the Brazilian population. For him, inflation does not only impact the budget, but presses a restructuring in consumer priorities.
“It may seem like just a number, but think about it: if almost 9 out of 10 people feel the weight of inflation just on the food plate, what does that say about the future of food security in the country? Maybe it’s time to look more carefully not only at what is on the table, but what is missing from it,” he says.
The search for more affordable values also reduced the amount of items in the cart. The survey reveals that more than half of the population (50.5%) stopped buying olive oil.
Beef also left the cart of 46.1% of respondents. Basic and traditional products of everyday life, such as coffee (34.6%), eggs (20%), fruits and vegetables (12.7%), milk (9%) and rice (7.1%), integrate the list of cuts.
“Inflation took more than purchasing power: it took items from the cart that were previously considered essential,” points out Vasques.
In the long run, in the next 12 months, the survey results point to a scenario where 65.9% of Brazilians believe that the cost of living will continue to increase, while 23% expect prices to rise.
For 8% the values will be stable and 3.1% consider that there will be a reduction.
A possible solution for respondents would be the decrease in taxes on basic products – 61.6% believe that such a measure could reduce prices.
“The expectation of inflation accelerates caution and reduces consumption. Population and companies are under strong pressure, not only for prices, but also for the effects of high interest rates,” says the CEO.
