Argentina's Cabinet Chief Agustín Rossi admitted the administration of President Alberto Fernández was losing the battle with inflation. “We thought we were getting there, but we weren't,” Rossi was quoted as saying by local media. “Nobody can be happy, least of all us”, he added.
Consumer price inflation in Brazil was well contained in August, as forecast, reinforcing expectations of deeper interest rate cuts by the central bank as it tries to fire up economic growth.
Uruguay consumer price inflation accelerated to 8.6% in 2011 from 6.93% the previous year, the government stats office, INE said on Tuesday.