Brazil's socialist president tells citizens not to buy expensive grocery items as food prices rise
In a video being shared online, Brazilian President Luiz Inácio Lula da Silva urged Brazilians to be frugal when grocery shopping.
"If you go to the supermarket in Salvador and you suspect that a certain product is expensive, don't buy it," he said. "Look, if everyone thought like that and didn't buy things they thought were expensive, whoever is selling is going to have to lower the price in order to sell it.
How Brazilian Police Say Bolsonaro Plotted A Coup To Stay In Office
"Because if they don't, it's going to spoil."
On Thursday, da Silva said he was worried about rising food prices but projected the increases would slow and voiced an optimistic tone about the economy.
Read On The Fox News App
"The Brazilian economy is living its best moment," Lula said during an interview with radio stations, Reuters reported.
The leftist leader noted that Brazil's real was still at a low level against the U.S. dollar but sees the rate "adjusting," according to Reuters.
Bering Air Plane Vanishes In Alaska While Carrying 10 People
In January, Brazilian Finance Minister Fernando Haddad said he expected food prices to decline this year due to strong agricultural production.
Prices tend to stay at high levels until food production "corrects this price distortion to an adequate level," he told a local news outlet.
Haddad added that officials predict Brazil's economy will grow 2.5% in 2025, slowing from an expected 3.5% last year.
"I believe we have room to grow 2.5% by reducing inflation," he told RedeTV, according to Reuters.Original article source: Brazil's socialist president tells citizens not to buy expensive grocery items as food prices rise
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Hill
2 hours ago
- The Hill
Trump tariffs: A grocery shopper's guide
President Trump's tariffs could raise the cost of some of the most popular imports in American grocery aisles, from coffee and olive oil to wine, matcha and spices. After the 'Liberation Day' tariffs kicked in worldwide in early August, businesses and consumers alike are watching closely for when — and how much — prices tick up. Inflation data released Tuesday did not show an overall increase in food prices, but economists say that's likely to change as businesses pass more costs on to consumers. Wholesale prices surged 0.9 percent last month, the biggest monthly jump since June 2022 and a sign that inflation may not be cooling off just yet. 'Many of us anticipated ahead of time that you might see some faster movement in groceries, partly because you can't stockpile stuff right in the same way,' said Martha Gimbel, the Budget Lab at Yale's executive director. 'You can't stockpile a year's worth of avocados. That being said, the price increases that we've seen in food so far are pretty muted, so we'll just have to see what happens,' she said. Here are six iconic imported grocery products that could be impacted by Trump's tariffs. Coffee Coffee prices were already up before a 50 percent tariff on Brazil, the top coffee importer to the U.S., went into effect last week. Coffee prices sharply rose 25 percent over the past three months, according to inflation data released Tuesday. Reuters reported Tuesday that Brazilian coffee exports have started seeing postponements to their U.S. shipments. How hard your morning habit gets hit varies between brand, shop and choice of bean. Nespresso pods, for instance, are entirely produced in Switzerland, which is subject to a 40 percent tariff. Colombia, the second-largest importer of coffee to the U.S., only pays Trump's 10 percent baseline duty. 'Some importers might shift sourcing toward countries with exemptions, but in many cases the increased costs will all be passed on to you, the coffee lover,' Todd Carmichael, the co-founder of La Colombe, wrote in The Washington Post earlier this week. 'Surely, coffee is too essential and too global to put at the center of a geopolitical chess match.' Rep. Ro Khanna (D-Calif.) said Wednesday he would introduce a bill with bipartisan support to repeal tariffs on coffee. Olive oil Trump's tariffs have only added to the uncertainty facing olive oil producers, who are grappling with climate shocks. Extended droughts in Spain in 2022 slashed production, and other top production regions like Sicily and Greece have also confronted record-high temperatures. Allen Dushi, a co-founder of olive oil brand Graza, said the company has held off on increasing prices, adding that any uptick in import costs could take at least three to four months to reflect on grocery shelves. Many retailers or distributors require 60 to 90 days notice for a change, he said. The company uses Spanish olives, and production and bottling are all based in Spain. That limits the extent to which the company can keep stocks in the U.S., which would have to be finished bottles. 'We are not trying to stockpile inventory, because our priority number one is always the quality of what's inside the bottle,' Dushi said. 'That's not something we really compromise on.' Switching to American production wouldn't help, Dushi added; the company would still have to pay tariffs on Spanish olives, as American olive production doesn't meet the same standard. 'So as long as you're buying the oil, and importing the oil, you're going to be paying the tariff on that,' he said. Spain and Italy accounted for two-thirds of U.S. olive oil imports in 2024. Both are subject to the 15 percent tariff under the trade deal struck between the European Union and the U.S. in July. Other top producers are still subject to tariffs, such as Tunisia (25 percent), Turkey (15 percent) and Argentina (10 percent). Wine The July U.S.-E.U. trade deal was seen as a starting point. As negotiations have continued, the beverage industry and European officials have pushed for an exemption for wine and spirits, The Wall Street Journal reported. A group of nearly 60 associations representing wine, beer and liquor interests warned last week that the industry could face nearly $2 billion in lost sales and have to cut more than 25,000 jobs in the U.S. as a result of the tariff. The coalition, Toasts not Tariffs, pointed to products like cognac that have to be produced in a specific region and cannot be switched to a tariff-free alternative. Eric Foret is a wine buyer at Le French Wine Club, which operates several locations in New York City and Washington, D.C., alongside an online shop. He said that he had to increase his prices, although they were fairly gradual. 'It's a dollar here, a dollar there, a dollar here, a dollar there and then at the end, you spend ten dollars more on the bottle of wine, you don't even notice it,' he said. In addition to France, which accounted for more than one-third of U.S. wine imports last year, the EU tariff impacts shipments from Italy (33 percent of imports) and Spain (6 percent). Matcha A 15 percent tariff on Japan could impact the price of a matcha latte — already a pricey product before tax, tip and oat milk. While U.S. trade data does not specifically track matcha, Japan generally accounts for about half of American green tea imports by value each year, and Japanese origin is a selling point for many specialty matcha shops. The industry is also grappling with the impacts of record heat waves in Japan last summer that curbed harvests of tencha, the tea leaves dried and ground into matcha. Demand for the vibrant green beverage has also soared in recent years, driven by young enthusiasts and social media. David Cooper runs Spot of Tea, a Washington, D.C.-based shop with three locations selling matcha and other tea drinks. He considers himself lucky to have bought his 2025 stockpile before the tariffs and shortages hit. Now, however, 'we're looking at how much stock we have in our warehouse and then how much we're going through per month and doing the math and trying to push the suppliers to finalize the order as quickly as possible,' he said. 'It's definitely a little anxiety-inducing.' The uncertainty for the drink industry even extends to things like cups, Cooper said, which his shop sources from South Korea. 'I think on the day I was about to put the deposit down, Trump announced 25 percent tariffs for Korea. And so our supplier was basically, like, we cannot absorb all this cost,' he said. 'It's just so hard to tell at this point what percentage tariff is actually going to be applied.' Chocolate Switzerland, home to many famous chocolate brands, is facing a 39 percent duty, one of the highest in the world. Some of the country's larger manufacturers will be able to escape some tariff impacts because they already have production sites in the U.S. Lindt & Sprüngli, for example, produces the 'vast majority' of its products for the American market in New Hampshire, a company spokesperson said. That plant will still have to factor in tariff effects on raw materials like cocoa, imported from countries like Ivory Coast, Ecuador, Indonesia and Malaysia. Other companies, however, have made their brand on manufacturing in Switzerland. That's the case for Läderach, which is now figuring out how to manage 'massive additional costs,' its CEO said this week. 'I cannot change the tariffs. It is only human to get angry about them, enquire on who's guilt they are or be discouraged,' Johannes Läderach wrote in a LinkedIn post. 'But none of these options change anything, so I better pray for serenity to accept it.' Swiss leaders have attempted to negotiate with Washington on the tariff, which also impacts cheese and other exports. Swiss officials are now reportedly weighing whether to cancel an order for American F-35 fighter jets. Spices Trump shocked many observers by raising tariffs on India to 50 percent last week, citing its purchase of Russian oil. India is the top U.S. importer for spices like nutmeg, cardamom, anise, fennel, coriander, and cumin. Indonesia, another key producer, is subject to a 19 percent duty after negotiating with the White House. The American Spice Trade Association said in a Tuesday letter to Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer that many of its products could not be cultivated in the U.S.. 'The importation of spices directly supports approximately 50,000 U.S. jobs across processing, quality assurance, distribution, and product development,' the association said. Spice producer McCormick said in late June that tariffs could cost it as much as $90 million a year and that it was planning to raise some prices by the end of the year.
Yahoo
5 hours ago
- Yahoo
Trump Performs Major U-Turn As He Urges Zelenskyy To Do A 'Deal' With Putin To End The War
Donald Trump has performed a major U-turn as it emerged Vladimir Putin wants Ukraine to give up a huge part of its land in exchange for peace. The US president has ditched his demands for a Russian ceasefire as an essential precursor to ending the three-and-a-half years-long war. Trump revealed the climbdown as he claimed his summit with Putin had been 'great and very successful', despite it breaking up without any agreement on ending the war. It has now been revealed that the Russian president wants Ukrainian troops to withdraw from the Donbas region before he will agree to end the war. According to the Reuters news agency, the proposed deal would see Kyiv fully withdraw from the eastern Donetsk and Luhansk regions in return for a Russian pledge to freeze the front lines in the southern regions of Kherson and Zaporizhzhia. However, Ukraine has already rejected any retreat from Ukrainian land such as the Donetsk region, where its troops are dug in and which Kyiv says serves as a crucial defensive structure to prevent Russian attacks deeper into its territory. Trump, who will meet with Ukrainian president Volodymyr Zelenskyy in the White House on Monday, said after the summit that he and Putin 'has largely agreed' on land transfers and security guarantees for Ukraine. He told Fox News: 'I think we're pretty close to a deal,' he said, adding: 'Ukraine has to agree to it. Maybe they'll say 'no'.' Trump had previously said he wanted Russia to agree to a ceasefire before the terms of a full-blown peace deal could be signed off. But in a post on his Truth Social account following his talks with Putin, the US president said: 'The meeting with President Vladimir Putin of Russia went very well, as did a late night phone call with President Zelenskyy of Ukraine, and various European Leaders, including the highly respected Secretary General of NATO. 'It was determined by all that the best way to end the horrific war between Russia and Ukraine is to go directly to a Peace Agreement, which would end the war, and not a mere Ceasefire Agreement, which often times do not hold up.' His climbdown will be seen as a huge win for Putin, who has shown now willingness to end Russia's bombardment of Ukraine in recent months. Related... Sean Hannity Asked Trump To Rate Putin Meeting 'On A Scale Of 1 To 10.' This Was His Answer. 'Child Like Behaviour': Trump Mocked As He Falls For Putin's Flattery Trump Treats War Criminal Dictator Putin Like Royalty – And Still Fails To Get Ceasefire
Yahoo
6 hours ago
- Yahoo
Israel in talks to resettle Gaza Palestinians in South Sudan, sources say
NAIROBI (Reuters) -South Sudan and Israel are discussing a deal to resettle Palestinians from war-torn Gaza in the troubled African nation, three sources told Reuters - a plan quickly dismissed as unacceptable by Palestinian leaders. The sources, who have knowledge of the matter but spoke on condition of anonymity, said no agreement had been reached but talks between South Sudan and Israel were ongoing. The plan, if carried further, would envisage people moving from an enclave shattered by almost two years of war with Israel to a nation in the heart of Africa riven by years of political and ethnically-driven violence. Israeli Prime Minister Benjamin Netanyahu's office and Israel's foreign ministry did not immediately respond to a request for comment on the information from the three sources. A spokesperson for the U.S. State Department said, "we do not speak to private diplomatic conversations," when asked about the plan and if the United States supported the idea. Netanyahu said this month he intends to extend military control in Gaza, and this week repeated suggestions that Palestinians should leave the territory voluntarily. Arab and world leaders have rejected the idea of moving Gaza's population to any country. Palestinians say that would be like another "Nakba" (catastrophe) when hundreds of thousands fled or were forced out during the Arab-Israeli war of 1948. The three sources said the prospect of resettling Palestinians in South Sudan was raised during meetings between Israeli officials and South Sudanese Foreign Minister Monday Semaya Kumba when he visited the country last month. Their account appeared to contradict South Sudan's foreign ministry which on Wednesday dismissed earlier reports on the plan as "baseless". The ministry was not immediately available to respond to the sources' assertions on Friday. News of the discussions was first reported by the Associated Press on Tuesday, citing six people with knowledge of the matter. Wasel Abu Youssef, a member of the Executive Committee of the Palestine Liberation Organization, said the Palestinian leadership and people "reject any plan or idea to displace any of our people to South Sudan or to any other place". His statement echoed a statement from the office of Palestinian President Mahmoud Abbas on Thursday. Hamas, which is fighting Israel in Gaza, did not immediately respond to requests for comment. Israeli Deputy Foreign Minister Sharren Haskel, who visited the South Sudanese capital Juba this week, told reporters that those discussions had not focussed on relocation. "This is not what the discussions were about," she said when asked if any such plan had been discussed. "The discussions were about foreign policy, about multilateral organisations, about the humanitarian crisis, the real humanitarian crisis happening in South Sudan, and about the war," she said, referring to her talks with Juba officials. Netanyahu, who met Kumba last month, has said Israel is in touch with a few countries to find a destination for Palestinians who want to leave Gaza. He has consistently declined to provide further details. Solve the daily Crossword
