Across Latin America, the sharpest price spike in a generation has left many widely consumed local products suddenly hard to attain
Higher rates are a government’s primary tool to fight high inflation. But jacking up rates carries the risk of weakening an economy so much as to cause a recession. Last year, the World Bank estimated that the region’s economy grew 6.9% as it rebounded from the pandemic recession. This year, Malpass said, it’s projected to grow only 2.3%.Brazilian newspapers are telling their readers which foods they can substitute for their usual products to help stretch family budgets further.
“It breaks my heart, but I told many of them to give the powder back,” Batista said in the upscale neighborhood of Pinheiros.On the more upscale end of the java spectrum, Marcelo Ferrara, a 57-year-old engineer, used to enjoy a daily espresso at his local bakery. Its cost has shot up 33% since January, to 8 reais . So he's cut his intake to two each week.It has been decades since the region’s countries simultaneously suffered soaring inflation.
So far, though, higher rates aren't providing much hope that inflation will decline significantly in the near term. The International Monetary Fundthat average inflation in the region, excluding Venezuela, will slow to 10% by year end. That’s not much below the 11.6% rate registered at end-2021 and still more than twice the 4.4% expected for advanced economies, according to the IMF’s World Economic Outlook.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
LISTEN: The drink we’re embarrassed to order, plus Asian and Latin food festivalsOur weekly ‘Eat Drink D-FW’ podcast dishes on North Texas restaurant news, food and drink trends.
Read more »
‘Los Montaner’ Gives Teaser Trailer For Disney+ Series On Famous Latin American FamilyThey’re one of the most famous families in Latin America. Now, the rest of the world beckons, as the Montaner family is launching a new reality series on Disney+. Coming to Disney+ later this…
Read more »
Students Across Denver Walk Out in Support of Abortion RightsWhen the national effort failed, high school students across metro Denver walked out to show support for reproductive rights.
Read more »
One million free cannabis plants to be distributed across Thailand: public health ministerOne million cannabis plants will be freely distributed across Thailand beginning next month - via TheGrowthOp Cannabis CannabisCommunity cannabisindustry cannabisbusiness
Read more »
Gone but not forgotten: Annual Peace Officer Memorial Day ceremonies across AlaskaLaw enforcement officers to honor those who made the ultimate sacrifice in the Last Frontier on Friday, May 13.
Read more »
Coral reefs have conveyor belts of mucus running across their surfaceEach coral reef contains thousands of tiny animals called polyps, and they coordinate their movement to generate mucus-filled currents that run across the reef surface – perhaps to carry food to each polyp
Read more »