inflation

Anadolu Agency

LONDON — Brazil lost 1.54 million jobs in 2015, officials said Thursday, as the country’s economy continues to contract amid the worst recession in a generation.

Industrial, civil construction and services sectors were worst affected, according to statistics issued by Brazil’s Ministry of Labor and Employment, which represent the worst result in 24 years.

Labor Minister Miguel Rossetto admitted 2015 had been a “difficult” year. “It is not a good result. We saw a reduction in jobs and average salaries, but the victories of previous years have been preserved as the level of jobs remains high,” Rossetto was quoted by local media as saying.

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Anadolu Agency

LONDON — Brazil’s economy will shrink by nearly 3 percent in 2016, according to estimates published Monday in a weekly central bank survey of 100 of the country’s economic institutions.

Gross domestic product in Latin America’s largest economy will contract by 2.95 percent in the thirteenth consecutive cut in the outlook for 2016.

The predictions are more than previously expected by economists, as economic output and confidence continue to dwindle amid a prolonged political crisis.

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Anadolu Agency

SÃO PAULO – Market analysts in Brazil have predicted, for the first time, that the country’s economy will expand by less than 1% in 2014, according to a Central Bank report published on Monday.

Analysts now believe the Brazilian economy will grow by 0.97% this year, according to the bank’s most recent Focus Bulletin, after analysts cut their GDP (gross domestic product) growth forecasts for an eighth consecutive week.

The figures, based on a survey of around 100 Brazilian economists, are the worst estimate recorded since the Central Bank began publishing the data. Last week the figure stood at 1.05%.

The news is yet another blow to the economic credentials of the government of President Dilma Rousseff, who is seeking re-election in October, and is also likely to hit confidence in Latin America’s largest economy, already hampered by low confidence and concerns over above-target inflation.

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Anadolu Agency

SÃO PAULO – The Brazilian government has been “regulating” fuel and energy rates to stave off higher inflation, President Dilma Rousseff’s Chief of Staff told the Folha de S.Paulo newspaper on Wednesday.

In his first major interview since taking up the ministerial position, Aloizio Mercadante denied Brazil was “controlling prices,” but admitted the country had mechanisms for delaying price rises in certain areas to minimise the impact on inflation.

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