Economy

• Wednesday, July 16th 2008 - 21:00 UTC

  US inflation in June at its fastest pace in 17 years

  

  United States inflation accelerated at its fastest pace in 17 years in June driven higher by surging energy prices. Consumer prices were 5% higher than a year ago and rose 1.1% on a monthly basis, the Labor Department said on Wednesday.

• Wednesday, July 16th 2008 - 21:00 UTC

  Higher rates expected as Euro inflation doubles ECB target

  

  Surging fuel food prices drove Euro zone inflation in June to 4%, (from 3.7% in May) more than double the European Central Bank target and the highest since measurements began in 1997, according to the latest release from the EU statistics office Eurostat.

• Wednesday, July 16th 2008 - 21:00 UTC

  Argentina faces complicated horizon, says Wall Street

  

  Wall Street analysts forecast a complicated horizon for Argentina fueled by the government's political problems, slower economy, rising inflation and the ongoing dispute with farmers over taxes which some anticipate will find its way to the courts, according to reports in the Buenos Aires press.

• Tuesday, July 15th 2008 - 21:00 UTC

  Increased chances for global trade accord, says WTO Lamy

  

  World Trade Organization Director-General Pascal Lamy said the chances of success for reaching a world-trade agreement have increased as a result of talks before trade ministers meet next week in Geneva.

• Tuesday, July 15th 2008 - 21:00 UTC

  UK June inflation soars to an 11 year high of 3.8%

  

  Rising food and fuel costs pushed UK inflation up to an 11-year high of 3.8% in June from 3.3% in May, figures show. The rise means inflation is now well above the government's 2% target, and may reduce the chance of a UK rate cut.

• Tuesday, July 15th 2008 - 21:00 UTC

  US dollar plunge triggers concern among trade partners

  

  The Euro soared to a new high against the US dollar on Tuesday, reaching US$1.6038 in European trading as markets worried about the ongoing US lending crisis and the country's economy.

• Monday, July 14th 2008 - 21:00 UTC

  Brazil heading for record grain and oil seed harvest

  

  Brazil's 2008 harvest of cereals, legumes and oilseeds has been estimated in a record 143.6 million metric tons, which is 7.9% higher than the 2007 production (133.1 million metric tons) according to the June report from the country's Geography and Statistics Institute, IBGE.

• Monday, July 14th 2008 - 21:00 UTC

  EU reopens market for Uruguayan fisheries exports

  

  Uruguayan fisheries exports to the European Union have officially resumed this week after having overcome sanitary observations interposed at the beginning of the year, reported the country's Fisheries Department (DINARA) director Daniel Montiel.

• Monday, July 14th 2008 - 21:00 UTC

  Chile basic rate up; consumer confidence at its lowest

  

  Chile's Central Bank raised its target interest rate by 50 points last week to 7.25%, the highest level since February 1999. Citing the need to pull back inflation to its 3% policy goal, the bank raised the monetary policy rate (TPM) for the third time in 2008.

• Monday, July 14th 2008 - 21:00 UTC

  Spanish group definitively decided to abandon Argentina

  

  The Spanish group Marsans expects to finalize this week an agreement to sell Aerolíneas Argentinas and its subsidiary Austral to the Argentine government according to company sources in Madrid.