The Uruguayan government will concentrate efforts in promoting economic growth, (debilitated in the second quarter), plus reducing domestic debt, even to the expense of “weakening the credibility of the inflation target”, according to the Economist Intelligence Unit, EIU, from The Economist magazine.
Economists covering Brazil cut their 2012 inflation forecast for the first time in eight weeks, cementing expectations that the central bank will continue to cut interest rates.
Inflation in China eased slightly in September but high prices, especially for food, remain a concern for the country's population. Consumer prices rose 6.1% last month, compared with the same month last year, the National Bureau of Statistics said.
Chilean inflation rose 0.5% in September and the trade balance narrowed as falling copper output forced the first monthly year-on-year fall in exports in over two years.
Annual inflation in Brazil hit a six-year high in September, government data showed on Friday. The benchmark IPCA consumer price index rose 7.31% in the 12 months through September -- above the official target range ceiling of 6.5% for the sixth straight month and the highest 12-month rate since May 2005.
Argentina's construction activity rose 7.3% on the year in August, as builders and private investors continued to benefit from a booming economy and high inflation.
Uruguay’s Central bank kept its benchmark interest rate unchanged as policymakers focus on bringing inflation back to target in anticipation of possible impacts from a global slowdown.
Nicolas Eyzaguirre, the IMF director for Latin America, stated that Argentina must apply “major measures” to improve its method of measuring the inflation.
China's rate of inflation eased in August, after hitting a three-year high in July, according to the National Statistics Bureau. Consumer prices in the world's second largest economy rose 6.2% from a year earlier, down from 6.5% in July.
Venezuelan July inflation, as measured by the national index INPC, came in on the high side of expectations at 2.7%, up from June.