Uruguay's inflation rate rose in January 0.74% from December as housing, hotel and restaurant prices jumped, the national statistics agency, INE, reported this week. The consumer price index rose 8.05% on the year at the end of January, INE said.
Rising output at Brazil's factories and mines in December, following a dismal 2011 performance, should help activity in 2012 as falling interest rates and rising investment help sustain growth in Latin America's largest economy
Latin American growth this year should stay under the 4% estimated previously at 3.6% since the region is susceptible to the slowing down of the world’s economy and increasing risks of the financial crisis on the Euro zone, according to the IMF World Economic Outlook released Tuesday.
The size of an annual start-of-year spending freeze that the Brazilian government is set to announce by early February will offer hints on how far President Dilma Rousseff and her economic advisers want to cut interest rates.
Inflation in Venezuela during last year reached 27.6%, which is 0.7 percentage points more than in 2010, according to a preliminary report from Venezuela’s central bank. President Nelson Merentes said that the consumer prices index “was associated to the upwards pressure generated on wholesale prices by a greater dynamism from domestic aggregate demand”.
French President Nicolas Sarkozy pledged in a grave New Year's message to find ways to pull the economy out of stagnation in the four months left before a presidential election and vowed no further public spending cuts.
Spain's new government revealed on Friday that the public deficit for 2011 would come in at 8% of GDP, well above a target of 6%, and announced income and property tax hikes and a civil servant wage freeze in response.
Latin America’s projected 2011 export growth of 26% to approximately 1.1 trillion dollars continues the strong growth posted in 2010, according to new estimates by the Inter-American Development Bank (IDB).
The Uruguayan central bank “Monetary Policy Committee” will attempt to balance ‘concern’ over inflation with the increasing international uncertainty when it meets next 29 December, said the bank’s president Mario Bergara.
Unasur Economy ministers and Central Bank presidents will meet Friday to agree on measures to help the region address the impact of the global crisis. The meeting takes place in Buenos Aires hosted by Argentine Economy minister and Vice-president elect Amado Boudou.