With inflation on the rise, return on savings in 12 months is the worst since 1991 | Economy

Savings completed 12 straight months of losses discounting inflation, according to data from financial information provider Economatica.

  • High gasoline costs, and official inflation is 0.87% in August, the highest rate for the month since 2000
  • Inflation in 2021: ethanol, gasoline and diesel are among items that rose the most in the year; see list

With accumulated inflation of 9.68% in the 12 months to August, the profitability of the passbook was negative at 7.15% in the same period. This level of losses has not been seen since October 1991, when the saver lost 9.72% of purchasing power in 12 months.

Profitability of savings – August/21 — Photo: Economy G1

Under the rule in force since 2012, when the Selic is below 8.5%, the annual adjustment of the savings account is limited to a percentage equivalent to 70% of the basic interest plus the Reference Rate (TR, which has been at zero since 2017) .

With the Selic currently at 5.25%, savings yield is 3.675% per year – well below inflation, which means that savers have losses in purchasing power, despite the nominal gain (in reais).

It is not only savings, however, that accumulate losses: only Bovespa and Bitcoin, among the assets evaluated, had positive profitability in the 12 months up to August.

In the 12 months closed in August 2021, Bitcoin registers profitability of 248.76% discounted inflation measured by the IPCA. Among the traditional investments, the Ibovespa is the only one with positive profitability, with 8.99% discounted for inflation.

Gold has the worst performance, with a drop of -20.54% discounted for inflation and -12.85% in nominal values, according to Economatica.

In August, all investments have a negative return, with the real estate fund index (IFIX) recording the biggest drop with -3.47% discounted for inflation and -2.63% nominally. Bitcoin in August has positive profitability discounted inflation of 11.62%.