European Central Bank Executive Board member Juergen Stark said the acceleration in Euro zone inflation to 3.7% in May, the highest rate recorded since the launch of the Euro is a cause for alarm.
Bank of England Governor Mervyn King has warned that inflation could rise above 4% this year as oil and energy prices soar. In an open letter to the Chancellor after official inflation hit 3.3%, Mr King said he had revised previous forecasts upwards due to a 15% rise in oil prices during the past month and the prospect of higher gas and electricity bills.
Brazilian President Lula da Silva and the country's top banker said fighting inflation remains a top priority, the latest warning against surging consumer prices. Speaking to an audience of investors at the Sao Paulo stock exchange, Lula da Silva said the government is determined to stop short-term inflation pressures from becoming permanent.
Producer prices in United States jumped by more than expected in May pushed higher by the soaring fuel and food prices, according to the latest release from the US Labor Department.
The United States Commodity Futures Trading Commission and its United Kingdom counterpart reached a deal with ICE Futures Europe to impose regulations on West Texas Intermediate oil contracts that trade on the London-based electronic exchange within 120 days, CFTC chairman told the US Senate.
Argentines expect consumer prices to increase on average 34.7% in the coming twelve months, which is slightly lower than the previous report, according to the latest release from the Finance Research Center belonging to the Torcuato Di Tella Univeristy.
The farmers' conflict is costing Argentina 3.4 billion US dollars, approximately 1% of GDP, but production and growth conditions in the country remain intact and are ready to resume in an excellent environment for food producing countries, according to economist Miguel Bein, a former Argentine Deputy Economy minister.
The International Monetary Fund, IMF has called on Latinamerica's central banks to send clear signals that their main objective is fighting inflation and not to blame exclusively international rising prices.
AméricaEconomía, a pan regional business magazine in Latin America, has announced the official launch of a new local edition in Peru. This is the fifth local edition of the glossy magazine which has local editions in Brazil (1996), Mexico (2005), Ecuador (2006) and Chile (2007).
Inflation in the Eurozone has a climbed to a record level amid higher food and fuel costs, official figures show. The annual rate of inflation in the 15 state zone hit 3.7% in May, according to the Eurostat statistical office.