Brasília – After four consecutive months trending up, the National Consumer Confidence Index (Inec) declined to 103.2 points in November, the National Confederation of Industry (CNI) reported this Friday (25). Compared to October, the index fell 1.1% and it’s 5.2% below the historical average of 108.8 points.
According to CNI, the decline in Brazilians’ confidence is the result mainly of the increasing levels of pessimism on price trends. The index of inflation forecast dropped 5.6% in November in comparison to October. This latest Inec, conducted in partnership with survey institute Ibope, interviewed 2.002 people between November 10 and 14.
*Translated by Sérgio Kakitani
