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The weather willing, food inflation in Brazil could ease until Q1 2023

Factors linked to the war in Ukraine, such as higher oil prices and greater international demand, have been driving up food prices in Brazil. Food inflation in the country rose much faster than general inflation earlier this year, and has now been decelerating at a slower pace. But there is good news, Brazilians could continue to feel the drop in food prices recorded in September in their pockets at least until the first quarter of next year — if the weather helps.

Overall prices rose by 4.09 percent year-to-date (and 7.17 percent in 12 months), per the official IPCA…

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