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To: PaulM who wrote (27706)	2/4/1999 12:37:00 PM
From: Alex	Respond to of 116791

<<Brazil's priority for now, however, is smothering any return of sky-high inflation. Only five years ago, prices were rising by 5,000 percent a year, requiring Brazilians to carry bundles of grubby bank notes just to pay for bus fares and newspapers. After nearly zero inflation last year, prices could rise by as much as 80 percent in 1999 on the back of the devaluation, according to some private predictions. Should they prove correct, the government will be virtually helpless to prevent the return of indexation, the practice of raising pay and prices to compensate for expected inflation. That would plunge Brazil back into economic chaos. "The big worry of the government is to avoid the return of inflation," said a presidential spokesman after Cardoso urged food industry executives not to follow the lead of local carmakers and other manufacturers who have begun raising prices. >> cnn.com