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Brazil's consumer delinquency rate grew 12.9% in January 2013 compared to a year ago, according to figures from credit research firm Serasa Experian's latest consumer delinquency index.
By segment, bounced checks saw an 11.5% increase in the average value of delinquencies to 1,573 reais (US$803) in January 2013 from 1,412 reais in January 2011. Banking debt delinquencies increased 2.3% in average value to 1,312 reais from 1,282 reais, while non-banking debt delinquencies decreased 53.5% in average value to 306 reais from 658 reais in January 2011. All other claims saw a 5.6% increase in the average value of delinquencies to 1,288 reais in January 2012 from 1,220 reais in January 2011.
Despite the year-on-year increase in delinquencies, Serasa noted Brazil's debt delinquency rate fell by 1.5% quarter-on-quarter in January 2013, for the third consecutive month. Serasa attributed quarter-on-quarter improvement to an increase in debt renegotiations and a decrease in interest rates, unemployment and debt growth.
Brazil began the year with a record-high number of bankruptcies, Serasa said earlier last week in a related report.