Brazil's Lula to end term with lowest accumulated inflation on record, minister says

Brazilian Finance Minister Fernando Haddad said on Tuesday that President Luiz Inacio Lula da Silva will conclude his four-year term in 2026 with the lowest accumulated inflation ever recorded, projected for the first time to come in below 20%.

Speaking at an event hosted by J. Safra Bank, Haddad added that average economic growth during Lula's term will be close to 3% per year, with unemployment at historic lows. He argued that these factors put Brazil in a stronger fiscal position than the one inherited from the previous government.