the social consequences of such economic plan, the paeg, were negative. though inflation had been reduced, it was still high for international standards. and in combination with the wage-freezing policies, it caused brazilians' real income to fall sharply—by about 25%—from 1963 to 1967. as a consequence, malnutrition and infant mortality rose. the brazilian industrial elite, too, began to turn on the government; not only it had been hurt by the sudden market opening, but also the monetary tightening applied under the paeg had dried out credit and induced a recession in output.