lowest

Data show a 42 percent drop in forest clearance from a year earlier, giving Lula a boost before the election run-off.

Deforestation in Brazil’s Amazon rainforest has fallen to its lowest level since records began in 1988, according to official figures that give a boost to President Luiz Inacio Lula da Silva days before a presidential run-off.

Brazil’s space research agency, Inpe, said on Friday that 3,335 square kilometres (1,288 square miles) of forest were cleared in the 12 months through July, about 42 percent less than the year before.

The previous record low was 4,571 sq km (1,765 sq miles) in 2011-12, while annual losses peaked at nearly 30,000 sq km (nearly 11,600 sq miles) in the mid-1990s, according to Inpe’s Prodes satellite programme, which measures from August to July because cloud cover is lower in mid-year.

“It’s an absolutely stratospheric drop…it’s like a dream,” Environment Minister Joao Paulo Capobianco said at a news conference in Brasilia.

Marcio Astrini of the climate advocacy group Observatorio do Clima called the figures “a historic achievement” and said they show that “with political will, it is possible to curb deforestation and greenhouse gas emissions”.

President Lula wrote on X: “Our goal is to achieve zero illegal deforestation by 2030.”

Lula took office in 2023 pledging to end illegal deforestation by 2030, after clearing soared to a 15-year high under his far-right predecessor, Jair Bolsonaro. The Amazon lost about 11,600 sq km (about 4,480 sq miles) a year on average during Bolsonaro’s 2019-2022 term, almost 60 percent more than in the previous four years.

Deforestation has fallen every year since 2022 and is down 71.2 percent over four years. The AFP news agency attributes the drop to greater monitoring and stiffer penalties for illegal logging.

Lula faces Bolsonaro’s eldest son, Senator Flavio Bolsonaro, in the election run-off on October 25, with polls showing them neck and neck.

Flavio pledged in his manifesto to strengthen environmental oversight in the Amazon, focus enforcement on organised crime rather than extractive workers and small farmers, and end “illegal deforestation” by 2029.

He has also praised his father, who is serving a 27-year sentence under house arrest for coup plotting, for opposing what he calls a “radical environmental agenda”.

Deforestation in the Cerrado savanna, south of the Amazon, also fell by about 24 percent, to 5,517 sq km (2,130 sq miles), the lowest since records began in 2001.

Rising goods and fuel costs are cited as key factors in the sharp drop in consumer confidence.

United States consumer confidence has fallen to its lowest level since 2014, just over one month before the congressional midterm elections.

Consumers pointed to higher costs for goods and services as the primary reason for the decline, according to The Conference Board, which released its monthly report on Tuesday.

“The Consumer Confidence Index deteriorated notably in September, following two prior months of softening,” Dana M Peterson, chief economist at The Conference Board, said in a release announcing the report.

Consumers pointed to higher prices at the pump as one of the driving factors. The average price for a gallon (3.78 litres) of petrol has jumped 37 cents over the past month, according to the American Automobile Association (AAA), which tracks daily petrol prices. The average price stood at $4.45 on Tuesday, compared with $4.08 a month ago.

“Oil and gas prices in particular rose to new heights, reflecting September’s surge in fuel costs. Comments about war/conflict eased this month but remained elevated,” Peterson said.

The consumer confidence report comes a day ahead of a key inflation report that the Federal Reserve uses to gauge the state of inflation, the personal consumption expenditures (PCE) index, which was up 3.7 percent in June from a year earlier.

The US central bank raised interest rates for the first time in three years earlier this month, driving up costs of credit cards and car and bank loans. It is set to make another decision on interest rates at its October 27-28 meeting, putting pressure on Republicans as consumer sentiment tumbles across political affiliations.

Consumer confidence fell among all political affiliations, according to the report, the second-to-last major consumer confidence reading before the midterm elections, which will determine the balance of power in Washington, DC.

US consumers think the Democratic Party would handle the economy better than their Republican counterparts, with 42 percent saying Democrats would do a better job compared with 34 percent for Republicans, according to a recent Marist poll.

US markets are only slightly lower as the trading day comes to a close. The tech-heavy Nasdaq closed down 0.08 percent, the Dow Jones Industrial Average declined 0.2 percent and the S&P 500 was down 0.1 percent.