The inflation rate in Brazil, the ninth world`s economy, has reached its maximum for recent four years, that has led to record growth of Bitcoin trading volumes.
Brazilian Institute of Statistics and Geography (IBGE) informs that cumulative inflation rate for recent 12 months has reached 4,58%. Our BTC doubler has found out that a few days before the announcement of rising inflation representatives of Cointrader Monitor, the analytical instrument monitoring fluctuations in bitcoin prices in the country, wrote on Twitter that April 10th trading volume on the Brazilian cryptocurrency exchanges rose to 100 000 BTC.
Besides, according to Coinlib data, total sum of Brazilian Reals, exchanged to BTC, reached $315 billion on Saturday.
Steady growth of price level of goods and services in combination with other economic issues worries not only Brazil, but also Argentina, where economic situation is much worse. Central Bank of Argentina had to tighten monetary policy three times for the last month.
Anyway, inflation rate grew almost to 55% in March, that also led to an unprecedented increase in the volume of trade in bitcoin this week.