The Chilean central bank hiked its reference rate from 4% to 5,5% to contain inflation which last year reached 7,2%, the highest in fourteen years. The Monetary Policy council of the bank on Wednesday agreed unanimously to increase the reference rate by 150 base points, according to the official release.Add your comment!
An article published by The Washington Post highlights Argentina's inflationary tradition and suggests US citizens should take a look at the South American country's way of economic life after prices locally rose around 7% in one year.Add your comment!
Inflation in Latin America for the year 2021 was way above projections, the Economic Commission for Latin America and the Caribbean (ECLAC) has said in a report issued from its Santiago headquarters.Add your comment!
Brazilian economy minister Paulo Guedes said that inflation will become a long-term challenge for Western countries, since the beast is already out of the bottle, and central bankers have been caught sleeping at the driving wheel.Add your comment!
The Consumers Price Index in Argentine Patagonia, mainly Tierra del Fuego, was 3,1% in December accumulating 51,6% in the twelve months of 2021, in the range of the overall Argentine inflation last year, 50,9%.
Growth in Latin America and the Caribbean region (LAC) rebounded to an estimated 6.7% in 2021, driven by favorable external conditions and pandemic-related developments, according to the World Bank's Global Economic Prospects. Region-wide new COVID-19 cases dropped sharply in the second half of the year, before surging in late December, even as the vaccination rollout progressed. Strong demand in key export destinations (the United States and China), high commodity prices, and continued high remittances to Central American and Caribbean countries were also supportive of growth in 2021.
Following a strong rebound in 2021, the global economy is entering a pronounced slowdown amid fresh threats from COVID-19 variants and a rise in inflation, debt, and income inequality that could endanger the recovery in emerging and developing economies, according to the World Bank’s latest Global Economic Prospects report. Global growth is expected to decelerate markedly from 5.5% in 2021 to 4.1% in 2022 and 3.2% in 2023 as pent-up demand dissipates and as fiscal and monetary support is unwound across the world.
Brazil's inflation for the year 2021 has reached 10.06%, which was the country's highest in the past six years, driven mainly by the rise in fuel prices and by the energy crisis, the Brazilian Institute of Geography and Statistics (IBGE) announced Tuesday.
Some three decades ago the new Argentine democratically elected government takes office determined to put an end to endemic inflation when not hyperinflation. The new scheme was convertibility, making the Peso equivalent to one US dollar. Following strictly to the book, this meant a tight rein on spending and selling government companies that only accumulated deficits.
Argentines expect that inflation in the next twelve months will reach on average 51,3%, according to the latest survey from the Torcuato Di Tella University. This is 0.9 percentage points higher than in the previous month of November when it was measured at 50,4%.