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Non-Tech : The Brazil Board
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From: Julius Wong5/1/2011 8:46:56 AM
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Price of Success in Brazil: $15 Movies
By JOHN LYONS

SÃO PAULO—Brazil has aspired for generations to climb into the club of the world's rich nations. By one measure, that moment has arrived: This city and others like Rio de Janeiro are now among the world's priciest.

The big reason is Brazil's currency has soared some 40% against the dollar in two years. Add to that a 6.4% inflation rate and Paulistanos here are suddenly shelling out the equivalent of $15 for a movie—more than New Yorkers.

Those prices reflect the conversion of the local currency, the real, into dollars. Brazilians earning local salaries are mostly insulated from currency shift because their incomes are rising relative to the dollar, but they, too, are beginning to feel the pinch of inflation and a hot economy

online.wsj.com
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