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Consumer delinquency in Brazil hit a new high in August, up 29.2% from a year ago for the 14th consecutive month of year-on-year expansion, credit information firm Serasa Experian said in a report.
For the first eight months of the year, consumer delinquency increased 23.4% from the same period in 2010. When compared to July, delinquency rose 2.9% in August, its sixth month-on-month expansion in 2011, Serasa said.
According to Serasa economists, the August increase is the result of a restrictive economic environment related to central bank BCB's monetary tightening measures to control inflation, together with seasonal factors, such as fathers' day.
Serasa expects the payment of the first half of the traditional "13th salary" - in which many companies double the monthly salary in December - in August will help consumers to pay previously acquired obligations.