The indicator measuring the proportion of households with debt - whether delinquent or not - reached 82 percent in July, marking the highest level ever recorded for the sixth consecutive month. In June, the index stood at 81.6 percent, while in July of last year, it was 78.5 percent.

However, the share of households with overdue debts - known as delinquency - fell to 29.8 percent in July. In the previous month, it stood at 29.9 percent, while a year earlier it was 30 percent.

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The average delay in debt repayment stood at 64.6 days in July, continuing a downward trend since April, when it was 65.1 days.

The data come from the Consumer Indebtedness and Delinquency Survey (PEIC), released on Thursday (Aug. 6) by the National Confederation of Trade in Goods, Services, and Tourism (CNC).

The survey covers 18,000 households nationwide. It takes into account credit card debt, overdrafts, store credit, payroll loans (with installments deducted directly from wages), personal loans, postdated checks, and car and mortgage payments.

Household budgets under strain

The survey shows that, on average, 29.5 percent of households’ budgets are committed to debt payments. The average debt repayment period stood at 7.2 months, compared with 7.1 months a year earlier.

The CNC emphasizes that debt is not necessarily a negative financial behavior, since it allows households to channel resources toward consumption, thereby stimulating the economy as a whole.

However, the institution warns that debt levels become a cause for concern when households begin to face difficulties in meeting their payment obligations.

The survey reveals that credit cards are the main source of household debt, accounting for more than 85 percent of indebted households.

Income brackets

CNC figures show that debt is more prevalent among lower-income households: 84.9 percent of those earning up to three minimum wages report outstanding debt.

In contrast, among households with incomes above ten minimum wages, the share drops to 72 percent.

Regarding the delinquency rate, it stands at 38.5 percent among the poorest households and 15.1 percent among the wealthiest.

Selic rate cut

The debt survey was released the day after Copom, the Central Bank of Brazil’s Monetary Policy Committee, announced a cut in the Selic rate - the economy’s benchmark interest rate - from 14.25 percent to 14 percent per year.

Interest rates are being kept at a high level as a means of combating inflation, since higher interest rates make credit more expensive and, consequently, discourage consumption.

For CNC Chief Economist Fabio Bentes, the reduction in the Selic rate is an important step toward improving credit conditions, although its impact will take time to materialize.

“The decision to lower the benchmark interest rate is likely to help reduce the cost of new credit operations and facilitate debt renegotiations under more favorable terms,” he noted.

Bentes pointed out that the “high burden on household income” suggests that the recovery of households’ consumption capacity will be gradual.

Petrobras announced on Monday (Aug. 3) the discovery of a natural gas well in a high-potential deepwater area off the coast of Colombia. The deposit is located in the Sandia-1 exploration well, in Block GUA-OFF-0, in the Guajira basin. Sandia-1 is located 42 kilometers offshore, at a water depth of 1,251 meters.

The company had already discovered high-potential reservoirs near the new location. Sandia-1 is 18 km from the Sirius-1 well and 9 km from the Copoazu-1 well.

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Drilling of the well began on June 12 and reached final depth last Wednesday (29).

The consortium

Petrobras is engaged in oil and gas exploration and production in Colombia through its subsidiary Petrobras International Braspetro B.V. – Colombia branch (PIB-COL).

Exploration in the Guajira basin is conducted in a consortium with the Colombian state-owned company Ecopetrol. The Colombians hold a 55.56 percent stake in the consortium, and the Brazilians 44.44 percent. Even though it holds a minority stake, Petrobras is the operator of exploration activities in the block.

According to the company, the discovery “reinforces the gas potential in Colombia’s offshore area, adding volumes that will contribute to the region’s energy security.”

The Brazilian state-owned company also noted that its operations off the Colombian coast are in line with its long-term strategy, which aims to replenish oil and gas reserves through exploration in new frontier areas and partnerships with other companies, “helping to meet global energy demand during the energy transition.”

Petrobras around the world

In addition to Colombia, Petrobras is involved in oil production in other countries.

In Africa, the state-owned oil giant operates in Namibia, São Tomé and Príncipe, and South Africa. In the Americas, the company has a presence in Bolivia, Argentina, and the US.

Brazil’s unemployment rate in the second quarter stood at 5.4 percent, reaching the lowest level ever recorded since 2012, when the historical series of the Continuous National Household Sample Survey (PNAD) began.

The result represents a decline from the first quarter of the year (6.1%) and compared to the same period in 2025, when it stood at 5.8 percent. The data were released on Thursday (Jul. 30) by the statistics bureau IBGE.

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In the second quarter, Brazil reached 103.1 million employed people – about 1.081 million more than in the first quarter. This figure is the highest ever recorded in any period covered by the survey.

The number of unemployed people stood at 5.9 million, down 10 percent (718,000 people) from the first quarter.

The study shows that during the three-month period from April to June, Brazil had 39.4 million workers with formal employment contracts – the highest figure in the entire history of the survey – and 13.6 million without formal contracts.

The proportion of informal workers in the employed population was 37.4 percent in the second quarter.

The average monthly income of Brazilian workers stood at BRL 3,738, the highest ever recorded for a second quarter. However, it is lower than the figure recorded in the first quarter of 2026 (BRL 3,765).

Despite a record-low unemployment rate during the period, income remains stable, according to research analyst William Kratochwill, because new hires typically earn wages that are average or below those of other workers.

High interest

The data pointing to a strong job market coincide with a period in which Brazil is experiencing a high benchmark interest rate – the Selic – set by the Central Bank, currently at 14.25 percent.

IBGE analyst William Kratochwill notes that the labor market itself creates a virtuous cycle, mitigating the impact of high interest rates on employment.

“When more people are employed, consumption increases, as do orders and production. The labor market itself may be contributing to companies continuing to hire,” he said.

He points out that one of the effects of the economic upturn can be seen in the number of discouraged individuals – people who were not even looking for work because they believed they would not find it – which stood at 2.3 million, down 14.7 percent (365,000 fewer) compared to the first quarter.

The survey

IBGE’s PNAD tracks labor market trends for people aged 14 and older and takes into account all forms of employment, including formal and informal work, temporary positions, and self-employment.

Only those who actively sought a job within 30 days prior to the survey are considered unemployed. The survey visits 211,000 households across all Brazilian states and the Federal District.