RIO DE JANEIRO, BRAZIL - Let there be no illusions. Brazil seems to be heading towards the worst of all worlds: stagflation. Not a popular term, it combines low economic growth and high inflation. Brazil is familiar with both.
And, for the time being, there is no sign of respite in the price escalation which has well-known and serious consequences: it destroys the population's purchasing power; the expectation of product and service sales by companies, with an impact on production; and reduces points in the Gross Domestic Product (GDP). In order to tame inflation, the Central Bank is tightening . . .