Uruguay's annual oil bill is set to jump 32% to 1.8 billion US dollars if the barrel of crude remains on average at 130 US dollars admitted Uruguayan private sector consultants who anticipated a far worst impact scenario if energy prices keep spiraling.
Despite near stagnant income growth Chile has the third largest income growth in Latinamerica. Chilean workers' wages rose 8.6% from this time last year. However, consumer price inflation surged at 8%, so real incomes grew a mere 0.6% compared to the first quarter of 2007, the National Statistics Institute (INE) reported.
Farmland prices in Brazil have risen sharply of late, driven up by rising international commodities prices, especially grains, agricultural analysts AgraFNP said in a report released this week.
The US Federal Reserve injected 75 billion US dollars liquidity into the banking system on Tuesday but a monetary pause in the near future is possible as the central bank's interest-rate reductions take effect.
World Trade Organization Director General Pascal Lamy said on Tuesday that the negotiating documents put forward this week on agriculture and industrial goods trade proved a platform for intensified work in the coming weeks.
Brazil's government managed oil corporation Petrobras said on Tuesday that according to media reports it is now the third-largest publicly-traded company in the Americas.
Bishop Jorge Casaretto, head of the Argentine Catholic Church Social Pastoral Committee said that perception at the moment ”is that poverty (in Argentina) is increasing”. The statement contradicts a recent Argentine government report indicating that poverty had fallen to 20.7% in the second half of 2007 compared to the previous 23.4%.
Youth unemployment in Chile is far higher than that of adults, and has been for years. According to a study by the International Labor Organization (ILO), the youth unemployment rate in Chile in the last ten years has been, on average, three times higher than that of adults.
A climatic emergency was declared Monday in Comodoro Rivadavia following strong winds, rain and snow storms which covered most of the Argentine Patagonian province of Chubut with several feet of snow.
United States Producer's Price Index increased 0.2% in April following the big 1.1% jump in March but the improvement is likely to be temporary since during April food prices remained unchanged and energy actually dropped, reported the US Labor Department on Tuesday.