BRAZIL INFLATION CLIMBS AS FUEL COSTS SURGE AMID IRAN WAR
By: Safiya Abdulrahim Dabban
Inflation in Brazil rose to 4.14% in March as soaring fuel prices, driven by global tensions linked to Iran, pushed up transport and food costs.
Data from Brazilian Institute of Geography and Statistics shows gasoline and diesel prices spiked sharply, reflecting the wider global energy shock. The situation has been worsened by disruptions to oil supply routes, particularly around the Strait of Hormuz.
President Luiz Inacio Lula da Silva has moved to ease the pressure with measures including diesel subsidies, as rising fuel costs continue to strain households and businesses.