The IPCA (Ample Consumer Price Index), the official inflation index, reached 6.59% for the last 12 months. The result is above the government’s target, which is 6.5%. The INPC (General Price Index), which measures inflation for households with incomes between one and eight times the minimum wages also rose in March and reached 7.22% for the last 12 months.

It is important to remember that the CNI / Ibope poll released in March 2013 showed that the popularity of President Dilma Rousseff increased compared to a poll conducted last December. One of the factors contributing to this increase was the improvement seen in policies and actions to combat inflation.

The approval rate increased from 45% to 48%, while disapproval rose from 50% to 57% between December and March. The news deemed most important by respondents was the reduction in energy tariffs and the reduction of the basic interest rate. The government…