The International Monetary Fund has asked Argentina's statistics office INDEC to clarify some methodology changes it introduced last year, echoing concerns among economists, statisticians --and public opinion-- over the reliability of the country's inflation data, reported the Buenos Aires press
The Bank of England cut interest rates 0.25 percentage points to 5.25% amid signs that the UK economy is slowing down. Fears over rising prices and balancing growth and inflation made the Thursday cut relatively soft.
Brazil has decided to temporarily lift the tariff on imported wheat from outside Mercosur trade bloc, following a request made by mills, a spokesperson at Brazil's Foreign Trade Chamber (Camex) said this week.
Fearing the risks to price stability over the medium term even when the economic fundamentals of the Euro area are sound, the European Central Bank (ECB) Governing Council kept this Thursday interest rates unchanged at 4%.
In the latest example that the U.S. dollar is not what it used to be some shops in New York City have begun accepting Euros and other foreign currencies as payment for merchandise.
Stocks slumped for a second straight session Tuesday after Wall Street saw an unexpected contraction in the service sector as evidence that the economy is sinking into recession. The Dow Jones industrial average fell more than 350 points, while bond prices rose.
Brazil on Tuesday sharply criticized the European Union's decision to temporarily ban Brazilian beef imports and warned it could file a complaint with the World Trade Organization.
The World Bank appointed Chinese national Justin Lin as its chief economist, the first time the post has gone to a candidate outside Europe and the U.S.
Uruguay's consumer prices index, CPI increased 0.78% in January, below expectations but the largest monthly rise since last August, 1.73%. January's CPI a year ago was 1.77% and in 2006, 1.37%. The last twelve months CPI now stands at 7.44%, still above the 3 to 7% Central Bank target.
Brazil's trade surplus narrowed to a 5 and a half year low in January as a cheaper dollar and rising consumer demand pushed imports to a record high. Imports increased to 12.3 billion US dollars in January from 10.6 billion in December.