With US inflation reaching 6,8% in November, the highest in four decades, and following a two-day meeting, the Federal Reserve announced it was ending its asset purchase program earlier than expected anticipating several interest rate increases in 2022.
Argentina's monthly inflation in November reached 2.5% for an accumulated 45.4% so far this year and 51.2% in the last twelve months, it was announced Tuesday in Buenos Aires by the National Institute of Statistics and Censuses (Indec).
Brazil's November inflation reached the highest in eighteen years, 10,74%, almost three times this year's central bank target (3,75%), but the rising trend seems to be flattening, according to the national stats office.
Brazil's Central Bank raised its benchmark interest rate 150 basis points for the second time running to 9,25%, the highest since 2017, in an effort to contain growing inflation.
Argentina's Catholic University (UCA) has released a study showing there were over 18.4 million poor people in the country, which would account for 43.8% of the population.
Analysts foresee official data for the year 2021 will show an increase in poverty for the second straight year in Paraguay and will reach almost 30% due mainly to increasing inflation, analysts said Tuesday.
Uncertainty and lack of confidence in Argentine politics is not only reflected with ballots in the polls. In effect despite all the limitations and clamps to the purchase of US dollars, limited to 200 per individual, per month and with a bank account, during October some 762,000 Argentines purchased US$ 137 million.
Inflation in Venezuela for October of 2021 was 8.1%, for a YoY record of 1,258%, according to a report from the Venezuelan Observatory of Finance (OVF) released Monday.
In a move aimed at curbing inflation, Brazil Friday announced a 10% reduction of import tariffs on 87% of goods and services until December 31, 2022. Economy Minister Paulo Guedes now expects the other Mercosur countries to do the same.
Brazil's economic crisis has led to an unprecedented number of households being unable to repey their debts, it was reported Thursday.