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The indebtedness of Brazilian families reached 80.4% in March 2026, the highest level in the historical series of the Consumer Debt and Default Survey (Peic) initiated in 2015, with income commitment reaching 29.3% — a record since 2011 — and even those earning above ten minimum wages are already feeling the weight of high interest rates and inflation
The National Confederation of Trade in Goods, Services, and Tourism (CNC) released on April 7, 2026, the data from the Consumer Debt and Default Survey (Peic) referring to March, and the result is a record that affects practically all income brackets. According to G1, 80.4% of Brazilian families reported having some type of debt — the highest rate since the beginning of the historical series in 2015.
Family indebtedness rises month after month without respite
The March index represents an increase of 0.2 percentage points compared to February 2026, when indebtedness was already at 80.2%. Compared to March 2025, the difference is even more significant: 3.3 percentage points above the 77.1% recorded a year earlier.
Thus, the upward trajectory has been maintained since the beginning of 2025, driven by high interest rates, persistent inflation, and the rising cost of essential items. As pointed out by Poder360, the rise in diesel and fuel prices in general has worsened the scenario by increasing the cost of transporting goods, putting pressure on supermarket prices and reducing purchasing power.
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Credit cards, overdrafts, store installment plans, payroll loans, and car and house installments lead the types of debt among Brazilian families, according to the CNC.
Those earning more than ten minimum wages are also in debt
One notable data point in the survey was the increase in indebtedness among families with incomes above ten minimum wages, which reached 69.9% in March. According to the Bora Investir portal from B3, the increase in this bracket was the most significant of the month.
On the other hand, there was a slight improvement among the most vulnerable. Default rates among families earning up to three minimum wages fell from 38.9% in February to 38.2% in March. Additionally, data from Serasa indicates that the number of low-income defaulters (up to two minimum wages) decreased from 25.2 million to 23.1 million. Still, the overall scenario remains one of widespread pressure.
Income commitment reaches a record since 2011
In addition to indebtedness itself, the income commitment of families to debt payments reached 29.3% in March — the highest level in the historical series of the Central Bank, initiated in 2011. Therefore, almost one-third of all that families earn is already allocated to paying installments, interest, and dues.
Default rates, in turn, remained stable at 29.6%, the same level as February, but 1.0 percentage point above March 2025. This indicates that, although the number of indebted individuals is growing, the proportion that delays payments has not surged — at least for now.
“We see a new round of inflation expectation adjustments for the coming months, a phenomenon that, if confirmed, will disproportionately pressure the budgets of lower-income families,” warned Fabio Bentes, chief economist of the CNC.
Government reacts and Selic begins to decline
President Lula reacted to the record by calling for a quick solution from the minister, as reported by Correio Braziliense. The government had already launched the Desenrola Brasil program in 2023, which ended in March 2024, and is now studying new debt renegotiation measures. Recent proposals include the release of FGTS to pay off debts, but the structural impact of these initiatives is still uncertain.
In the monetary field, the Central Bank began cutting the Selic rate in March 2026 after a long cycle of increases. However, the effects of the interest rate reduction take months to reach the final consumer. Meanwhile, the rise in fuel prices such as diesel — which does not always follow the drops in oil prices — continues to pressure logistical costs and, consequently, the price of products on the shelves.
Record does not mean collapse, but raises alerts for the coming months
Despite the record number, there are nuances in the scenario. Default rates remained stable at 29.6%, the number of low-income defaulters decreased according to Serasa, and the cut in the Selic signals a shift in monetary policy. However, the CNC warns that the effects of the easing take time and that indebtedness is expected to continue rising before it declines.
With eight out of ten families in debt and nearly 30% of income already committed, the record of March 2026 is a concrete warning: credit has become an essential part of the household budget, and any new inflationary or fiscal shock could turn indebtedness into widespread default.
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