Inflation chokes economies of Venezuela and Argentina
Some Latin American countries show signs of inflationary deceleration, except for Venezuela and Argentina, which maintain indices above 100 %
Inflation in Latin America shows signs of slowing down in countries like Brazil and Mexico. However, at the other extreme are Venezuela and Argentina, with the highest inflation rates, above 100 %.
The first semester of 2023 has not been easy for LA in economic matters. Inflation is one of the biggest problems facing the countries of the region. But there is hope on the way, as some economies show signs of a decline in the year-on-year rate.
Panama and Costa Rica have shown negative year-on-year inflation of -1.04 and -0.6 % respectively. They are followed by Brazil and Mexico, with the lowest inflation rate so far, with 4.93% and 3.16 each. Ecuador, for its part, closed June at 1.69 %, while Bolivia closed at 2.73 %.
Other countries, such as El Salvador, the Dominican Republic, Guatemala, and Paraguay reached year-on-year inflation of 3.78 %, 4 %, 4.93%, and 4.2 %, respectively.
This slight deceleration in the interannual rate is not part of the reality in two countries: Venezuela and Argentina, which matched the June measurement, accumulated 404 % and 115.6 % each. A harsh environment for its inhabitants.
In summary, the accumulated inflation rate for June 2023 remains as follows: Venezuela 108.4 %, Argentina 50.7 %, Colombia 6.15 %, Uruguay 3.78 %, Nicaragua 3.65 %, Brazil 2.87 %, Peru 2.81 %, Honduras 2.5 %, Paraguay 2.2 %, Chile 2.1 %, Guatemala 1.51 %, Mexico 1.37 %, Dominican Republic 1.2 %, El Salvador and Panama 1.1%, Ecuador 0.87 %, Bolivia 0.79 % and Costa Rica -1.52 %.
M.Pino
Source: bloomberglinea
(Reference image source: Unsplash, in collaboration with Ahmet Kurt)
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