The paper focuses some of the non-monetary structural causes of inflationary persistence in Brazil in the post-Real plan period. A connection is made between the de-industrializing trend and the emergence of primary pressures that set a floor to inflation levels. The framework is set up in terms...

The paper analyzes some of the structural causes of inflationary persistence in Brazil in the post-Real plan period, in contrast to the Brazilian Central Bank’s view on the causes of inflation, particularly in what concerns its inertial component. It begins with a historical perspective on the...