Brazil's 'New Middle Class' Struggles as Economy Plunges
In 2010, Brazil experienced large economic growth that allowed the country to fund several "poverty-reduction" programs. However, now the country has entered into a large economic recession as a result. The poverty programs allowed many Brazilians to rise above the poverty line as a new "middle class". Just between January and August of this year, more than 12,000 jobs in one city disappeared. Inflation is currently around 9.5% per year.
See "Brazil's 'New Middle Class' Struggles as Economy Plunges", October 12, 2015