Posted by BrazilMax:The strike that workers at Petrobras - the Brazilian state-controlled oil company - are scheduled to begin on Monday may well put further upward pressure on oil prices but it could also be a sign of things to come as inflationary pressures grow in South America's largest economy.
True, consumer prices rose slightly less than feared in the last 12 months, but inflation - 6.1 per cent in the 12 months to June - is still ticking upwards and the price of food has been rising at an annual rate of 15.8 per cent. Given that the less-well off spend a relatively large amount of their income on food many workers will be looking for wage rises in order to compensate.
What's more the Brazilian government has been setting a bad example, offering some big increases in recent months. Employers in sectors such as cars, which are struggling to meet growing demand, could be particularly susceptible to pressure from the unions.