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MercoPress, en Español

Montevideo, November 24th 2024 - 15:05 UTC

Tag: Inflation

  • Monday, September 28th 2020 - 09:31 UTC

    It’s time to dump Argentina’s Peso

    With money growing at over 50 percent per year, it’s no surprise that Argentines treat their pesos like hot potatoes.

    By Steve H. Hanke – In addition to facing an acute Covid-19 crisis, Argentina's deadbeat economy is collapsing, and, as usual, the inflation noose is around Argentines’ necks. Argentina’s official inflation rate for August 2020 is 40.70% per year. And, for once, Argentina’s official rate is fairly close to the rate that I calculate each day using high-frequency data and purchasing power parity theory, a methodology that has long proved its worth when compared with official statistics. Today, I measure Argentina’s annual inflation rate at 37%, but probably not for long — the noose is generally followed by the trapdoor.

  • Thursday, September 17th 2020 - 09:30 UTC

    Argentina tightens currency controls, helping the US dollar climb to a new record

    Access to dollars for the purpose of paying off foreign credit card debt and for purpose of saving in a stable currency will be taxed at 35%

    Argentina's peso currency plunged further into record low territory after the central bank tightened currency controls. The peso opened almost 0.1% weaker at 75.25 per U.S. dollar, traders said, and the country risk rose 38 basis points to 1,157. The black market peso or blue dollar plummeted 9.7% to open at a new all-time low 145 per U.S. dollar.

  • Thursday, September 17th 2020 - 09:29 UTC

    Brazil keeps key interest rate at record low 2%; anticipates “forward guidance” instead of further cuts

    In a statement accompanying the unanimous decision, “Copom” said inflation in the short term may be higher than previously thought

    Brazil’s central bank kept its key interest rate at a record-low 2.00% on Wednesday, pledging to stimulate the coronavirus-hit economy with “forward guidance” rather than more rate cuts because of the risk to financial market stability that they could pose.

  • Monday, September 14th 2020 - 11:19 UTC

    China's impact on poor Brazilians: prices of staples skyrocket, black beans 30%, rice 20%

    Inflation (IPCA) measured by the Brazilian Institute of Geography and Statistics (IBGE) has been 0.7% since the beginning of the year, but food has shot up 6.10%.

    Black beans are up nearly 30%, beef about 40% – Brazilians are facing a skyrocketing rise in food prices, caused by record exports to China and strong domestic demand. This rebound, amid the economic and social crisis caused by the new coronavirus pandemic, has led the president, Jair Bolsonaro, to ask the owners of supermarkets to show “patriotism” and “keep their profit margin as low as possible”.

  • Saturday, August 22nd 2020 - 09:40 UTC

    Venezuela, Argentina and Colombia among the highest rates in Bloomberg's Misery Index

    Venezuela has the world’s worse for a sixth straight year. The country suffers from soaring prices, with Cafe Con Leche Index estimating inflation rate of 4,043%.

    Bloomberg’s Misery Index, which tallies inflation and unemployment outlooks for 60 economies shows that almost all of the economies surveyed are projected to be more miserable this year amid Covid-19, with analysts expecting increased joblessness and tepid growth.

  • Friday, August 14th 2020 - 09:38 UTC

    Argentina inflation in July was 1,9% and the 12-month rate 42,4%

    Food and non alcoholic beverage, which has the greatest percentage in the overall index, advanced 1,3% in July with specific higher prices for fruit, meats and fish

    Argentina's July inflation rate was 1.9%, the government's Indec statistics agency reported on Thursday, bringing the seven-month rate to 15,8% and the 12-month rate to 42.4%. During July the items which showed the main increase were Housing maintenance, 3,9% and Leisure and Culture, 3,3%, with a special emphasis in electronics and home appliances.

  • Saturday, August 8th 2020 - 08:15 UTC

    July inflation in Brazil, 0,36%, only transport, fuel and housing increased

    According to IBGE, the biggest drivers in July were a 0.8% rise in transport costs as fuel prices picked up, and a 0.8% increase in housing costs

    Brazilian inflation in July rose the most in four years, figures showed on Friday, driven by fuel and housing costs, although the annual measure remained significantly below the central bank’s year-end target. The IPCA index rose 0.36% in July, government statistics agency IBGE said.

  • Wednesday, July 29th 2020 - 09:49 UTC

    Money, money, Argentina importing banknotes and with the national mint working 24/7

    The pace of monetary issuance has accelerated in recent months as the central bank creates pesos that the government uses to pay for its coronavirus stimulus plans

    Argentina is rushing to import banknotes as its national mint struggles to keep pace with soaring central bank issuance and inflation of more than 45%. The mint is importing printed bills for the first time in five years and is also boosting its purchases of the paper used to make banknotes, according to three people with direct knowledge of the matter.

  • Thursday, June 18th 2020 - 12:32 UTC

    Brazil slashes benchmark interest rate 75 basis points to a record low of 2,25%

    Brazilian interest rate futures market pricing on Wednesday indicated that another cut in the Selic rate to 2.00% by the end of the year was more likely than not

    Brazil’s central bank cut its benchmark interest rate by 75 basis points to a record low of 2.25% on Wednesday, as expected, and said there was some room left for further monetary stimulus to support an economy ravaged by the coronavirus pandemic.

  • Saturday, June 13th 2020 - 07:16 UTC

    Argentina: May inflation 1,5% and 43,4% in the twelve months

    The price of clothing and shoes jumped 7.5% in the month as shoppers updated their wardrobes for the upcoming winter season, according to Indec

    Argentina's 12-month inflation slowed in May as many consumers stayed home while shops and other businesses mostly remained closed because of social distancing measures intended to control the spread of the coronavirus.