Brazil has not started off 2016 very well. As every ones New Years resolution is to "prosper and increase economically", Brazil is just praying that they won't go back to hyperinflation.
Brazil's inflation rate has sadly increased to a 12 year high of 10.84%, as the populations unemployment rate rises. I am personally not from Brazil,but seeing as my best friend and boyfriend are from there and they have family in Brazil it touches me how hard it has been for the people of Brazil to deal with this recession.
An example would be Eder Leoni, a Supermarket owner in Brasilia. As the owner of the supermarket, he has tried to cut down costs of his food prices as, "unemployment rises and fearful shoppers cut back on spending",but he can't cut prices to attract customers because his overall costs are up 19%. He has had to lay off 5 people because of this, and his sales have gone down 8.5%. Everything has gone up, food prices, gas prices, tuition for schools. Moms have had to send their kids to cheaper schools, families have had to try not to go out more. And as the people of Brazil try to readjust, President Dilma Rousseff just removes subsidies and lets prices rise.
As the people of Brazil feel like their government doesn't know what to do, they have lost hope, and the only thing they can do is cut down spending and live through the recession.I believe that the people of Brazil will go back to their 4.5% inflation rates and prosper. As the Brazilians say "Fique Tranquilo","don't worry", don't worry the recession and high inflation rates will pass.
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