Consumer delinquencies in Brazil 2.8% in the 12-month period throughMarch year over year, according to data released from credit research firm BoaVista SPC April 11.

Between January and March of this year, consumer defaultincreased 5.8% compared to the same period in 2015.

Considering the index for just March, delinquencies declined1.8% annually and dropped 8.4% from the previous month.

The credit research firm attributed the default increase inthe aggregate period to a combination of rising unemployment, falling incomeand rising interest rates and inflation in the country — all factors that havecontributed significantly to a decrease in family budgets.