Cumulative price increases help explain Lula’s popularity troubles

Consumer prices rose 0.67% in April, taking Brazil's official 12-month inflation gauge to 4.39% — closer and closer to the upper limit of the government's target band.

Food and beverages did most of the damage in April, climbing 1.34% and adding 0.29 percentage points to the headline monthly figure. The price of carrots jumped 26.63%, long-life milk 13.66%, onions 11.76% and tomatoes 6.13%.