Argentina posted a primary budget surplus 1.97 billion Pesos (455 million US dollars) in April, up 4.8% from the 1.88 billion Peso surplus a year earlier, the government said on Thursday.
Inflation expectations for the next twelve months in Argentina dropped to 29.5% in May from 30.3% in April according to the latest report from the Financial Investigation centre from the Torcuato Di Tella University, CIF.
This is the first time in twenty months that the index is below 30%.
China has started rationing electricity to try and stave off an energy shortage that government officials say could be the worst since 2004. State-owned power generating companies are dealing with high global energy prices that have cut their profits.
China has also banned the export of diesel, to try to meet domestic demand.
With the US government about to hit its 14.3 trillion US dollars debt limit, US Treasury Secretary Timothy Geithner has warned of “catastrophic” consequences and a new recession if Washington is not able to borrow more.
China's surging inflation eased slightly in April as Beijing tightened controls to cool its overheated economy. Consumer prices climbed 5.3% over a year earlier, driven by an 11.5% jump in food costs, data showed Wednesday.
Rising international food prices could trigger an acceleration of inflation in several countries in Latin America and the Caribbean this year, highlighting the need for policies to protect the urban poor, according to a new study by the Inter-American Development Bank, (IDB).
Uruguay’s April consumer inflation, 0.34%, the lowest since last November came as a relief for government authorities, but the accumulated rate of the last twelve months was 8.34%, well above the Central bank 4% to 6% target. Furthermore compared to April 2010 inflation was almost double: 0.18% vs 0.34%, according to the country’s Statistics Institute, INE.
Economic growth in much of Latin America remains strong, propelled by rising commodity prices, easy financing conditions, and stimulative policies. Growth exceeded 6% in 2010, and while it is projected to moderate to about 4¾% in 2011, the IMF says countries should remove the policy stimulus on a timely basis.
China's currency, the Yuan, strengthened past a key level against the US dollar on Friday, as part of wider efforts to contain inflation on the mainland. The Yuan broke past 6.50 against the dollar, a level not seen since 1993.
The strength of the Brazilian Real against the US dollar is very worrying for the country's exporters, with many companies struggling with higher production costs and a reduced ability to compete in global markets, Bunge Brasil CEO Pedro Parente said Thursday.