INFLATION IN BRAZIL

Grey River Argus, 17 May 1946, Page 3

INFLATION IN BRAZIL

A NEW YORK PAPER’S ACCOUNT. (Rec. 7.40.) NEW YORK, May 15.

The New York “Herald-Tribune’s” Rio De Janeiro correspondent stated: The President of the Bank- of Brazil has disclosed that the Government is attempting to avert an economic crash threatening from an increasingly dizzy inflationary boom. Economists consider that inflation in Brazil is one of the most acute in the Western Hemisphere. It is stated hotels and night clubs are jammed with people anxious to spent pockets lull of bank notes. Gambling losses of. fifty thousand dollars nightly were not unusual before the Government last week closed gambling casinos. Diamond covered women carelessly tossed five hundred dollar chips on to the roulette wheels at the super-extravagant Quintanditha Hotel. New refrigerators worth 165 dollars sell for one thousand dollars. New American cars fetch thrice their times their landed cost.