Economy

Brazil's energy crisis affecting inflation, cenbank chief says

"We are talking about an energy crisis in Brail again, because it's not raining enough. This has an effect in inflation, in food prices, it is very tied to our mandate", Campos Neto said

Brazil's central bank president, Roberto Campos Neto, attends a news conference, amid the coronavirus disease (COVID-19) outbreak, in Brasilia, Brazil April 7, 2020. Photo: REUTERS/Adriano Machado/File Photo
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The drought in Brazil is affecting inflation, central bank head Roberto Campos Neto said at an online event on Wednesday, adding that climate change has been influencing central bank mandates and monetary policy.

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“We are talking about an energy crisis in Brazil again, because it’s not raining enough. This has an effect in inflation, in food prices, it is very tied to our mandate”, Campos Neto said.

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