Argentina's stats office Indec, is scheduled to announce December's inflation and for the whole of a very volatile 2018 next Tuesday, with estimates ranging at 48%, the highest in the country since 1991. November's Consumer Price Index was 3.2%.
The United States consumer prices were unchanged in November, held back by a sharp decline in the price of gasoline, but underlying inflation pressures remained firm amid rising rents and healthcare costs. The strength in underlying inflation reported by the Labor Department on Wednesday supports views that the Federal Reserve will raise interest rates at its Dec. 18-19 policy meeting. The U.S. central bank has hiked rates three times this year.
Brazil's inflation eased more-than-expected in August as prices fell from the previous month, preliminary data from the statistical office IBGE showed Thursday. The consumer price index, IPCA, rose 4.19% year-on-year following a 4.48% in July. Economists had forecast a 4.29% inflation rate.
Argentina's consumer prices will rise by 19.7% in 2017, according to a central bank poll of 56 economists published this week, a slight drop from median expectations in last month's survey but still higher than the central bank's target.
Argentina's 'official' inflation during June was 1% over the previous month according to the National Statistics and Census Institute, Indec, while prices during the current calendar year prices have reached 6.7% and 15% over the last twelve months.
Inflation in Argentina clocked 1.53% in June accumulating 27.9% in the last twelve months according to the report released on Tuesday by members of the Congressional opposition based on an average from private consultants. This week Argentina's government stats office, Indec in scheduled to announce the official rate.
The Chilean consumer price index showed no variation in July in contrast to the surprise 0.3% drop in June, as increases in food and non-alcoholic drinks offset falls in clothing, footwear and utilities, according to the national statistics agency INE.
The Bank of England has announced on Thursday it will pump a further £50bn into the UK economy over the next four months through its quantitative easing (QE) program to try to help the economy.
History has left Argentines with more than their share of economic trauma. Having twice suffered destructive bouts of hyperinflation in the late 1980s, they are sensitive to rising prices. When they spot inflation their instinct is to dump the peso and buy dollars.
The consumer price index in Argentina during the month of November increased 0.6% according to the official stats office Indec, which is less than half the percentage released by private estimates through the so called Congress inflation index.