Argentina multiplies by 12 the rate of inflation of neighboring countries


If there economic variable that escaped control measures of the Argentine government in 2018 was the inflation. The peso cut its value in half last year and neither interest rates, which exceeded 70% a year, could prevent retail prices from growing on average about 50% in twelve months, double that of 24.8% 2017.

Argentina is part of the small group of five economies with higher inflation in the world. Al embarrassing list is led by Venezuela, with retail prices rising between 1,700,000% – according to opposition lawmakers – and 2,500,000%, according to International Monetary Fund estimates.

Behind Venezuelan hyperinflation, follow the records of countries with deep crises that go beyond the economy and are even on the verge of dissolution, as Southern Sudan (+ 99.4% per year, according to the IMF) and Sudan (+ 64.3%).

Through the fourth global position dispute Argentina (around 48% according to private estimates) and Will (+ 47.8% according to the IMF estimate).

At the regional level, useful for comparison due to the similarity of the economic structure of the countries, high inflation seems a limited problem, with the exception of Venezuela and Argentina. In this sense, Argentine inflation is practically 12 times larger than its neighbors.

On January 15, INDEC will release data from the National CPI. With a price increase of 3% in the last month of the year, inflation in 2018 will close around 48%, the highest since 1991. The upward trend in retail prices will continue this year: according to the Central Bank's Market Expectations Survey (REM), private analysts expect inflation to be 28.7% by 2019.

O Bank of the Republic of Haiti registered a monthly inflation rate of 1.4% in November. Taking the accumulated in 12 months, the decline in consumer prices was 14.5 percent.

Uruguay's Consumer Price Index (CPI) fell 0.38% in December 2018 compared to the previous month, which led to cumulative inflation in the year and in the last 12 months was 7.96%, according to official data published by the National Statistics Institute (INE). Is slight acceleration against 6.2% in 2017.

O Suriname's General Statistics Office Until last October, it saw an annual increase of 5.2% in average consumer prices. It is a very important deceleration of 55.5% per year in 2016 and 22.0% in 2017.

Inflation in Mexico subtracted almost two points percentage from 6.77% in 2017 to 4.83% at the end of 2018, although factors such as weight devaluation Mexican currency against the dollar and the variation of the international prices of the dollar energy they persist as a threat of the volatility of US consumer prices. By 2017, inflation was the highest in two decades due to the incidence of fuels.

Inflation in Mexico is still far from the Bank of Mexico's target of 3%, with a deviation range of one percentage point up or down. The interest rates organized by the Mexican Central Bank are 8.25% per year.

Honduras ended 2018 with an inflation of 4.22%, according to the central bank of the Central American country, below forecasts of economic analysts, from 4.73% in 2017. The monetary authority of Honduras maintains the Monetary Policy Rate at 5.75% per year, while the local currency, lempira, depreciated 3.18% against the dollar the last year.

The Central Bank of Jamaica celebrated with reggae the fulfillment of its objectives: "A Low and stable inflation is the heart of the economy"O IPC increased by 4.1% last year, within the annual target at a range of 4 to 6% per annum.

The Brazilian Institute of Geography and Statistics (IBGE) reported that the neighboring country had inflation of 3.75% throughout 2018, a result that was within the Central Bank's target of 4.5% annual inflation with two points above or below tolerance. It was also almost a point higher than in 2017, when it scored 2.95% per year.

By 2019, the financial market expects inflation of 4.01%, according to the Focus bulletin released by the Central Bank of Brazil, which bIn December, the of basic interest (SELIC) for 6.5% the slow progress in prices.

The behavior of prices of goods and services of mass consumption in Nicaragua reached until November of this year an increase of 3.24% per year, slightly lower than 4.51% in the same month of last year, published the Central Bank of Nicaragua.

The numbers of the issuing bank reflect that the accumulated rate for this year is well below what was expected as a consequence of political crisis which broke out on April 18 this year.

The Central Bank of Paraguay recorded a decline in average retail prices of 0.3% in December, which reduced inflation 3.2%, down from 4.5% in the previous year. This result is located by below the target of 4% initially estimated by the Paraguayan monetary entity for 2018.

In the CPI of last month of 2018 weighed the fall of the common gasoil and in the tariffs of public transport of the metropolitan region of Asuncio'n.

In 2018, inflation in Colombia was 3.18%, nine tenths less of 4.09% in 2017, according to data from the National Department of Statistics of Colombia (DANE).

"The largest contributions to the annual variation were recorded in the housing and food, which together contributed 1.98 percentage points to the annual accumulation of said variation, "DANE said in a bulletin.

The trans-Andean country ended the year 2018 with an inflation rate of 2.6%, according to the National Institute of Statistics (INE), which supposedly acceleration of three tenths compared to 2.3% per year in 2017. In any case, inflation is maintained below the median of the target range between 2 and 4% established by the Central Bank of Chile for the next two years.

O Underlying CPI, which in Argentina is defined as the "core of inflation" and which in Chile excludes fuels, fresh fruits and vegetables, accumulated 2.1% during 2018.

The Peruvian economy closed 2018 with annual inflation of 2.48% within the range of 1 to 3 percent set by the Central Reserve Bank of Peru (BCRP) last year.

According to the National Institute of Statistics and Informatics of Peru (INEI), even with a average monthly of 0.2%, annual inflation increased from 1.4% in 2017, when it achieved the best record in eight years.

The National Statistical Institute of Guatemala observed the annualized inflation of 2.31% in 2018, less than half of 5.68% in 2017. Last year recorded the lowest variation since 2009 (with deflation: -0.28%).

According to INE, the cost of the Basic Food Basket closed at 3,559.84 quetzales (USD 461.11), while the Expanded Basket, which includes expenditures on food, education, housing, health, transportation, recreation, clothing and communications, among others. other, closed at 8,219.44 quetzales (USD 1,064.69).

Costa Rica recorded inflation of 2.03% in 2018, down from 2.57% in 2017 and for below the goal established by the Central Bank, of 3%. According to the National Statistics and Census Institute (INEC) of the Central American country, the inflation indicator was the in the last decade, behind the records of 2015 (-0.18%) and 2016 (+ 0.77%).

The consumer price index (CPI) in the United States fell 0.1% in December, with what the annual inflation was 1.9%, the US government said Friday. In 2017, inflation in the United States closed at 2.1%.

O underlying inflation, which excludes more volatile products such as energy and food, remained unchanged and closed the year at 2.2 percent.

The annual rate of inflation slowed down considerably in November, at 1.7% per year, because the downward pressure on the price of fuel, according to a report from the Statistics Canada. The agency's latest inflation figure was the lowest annual increase since January 2018.

O downward pressure on prices in Canada was also due to lower costs year after year for traveler accommodation, digital computing equipment and devices and telephone services.

With him lowest in nine years, the annual consumer price index (CPI) in Bolivia stood at 1.51% at the end of 2018, below the official projection of the government of Evo Morales, who initially predicted an inflation of 4.49% last year.

According to data from the National Statistics Institute of Bolivia (INE), this record was the lowest, after 0.26% in 2009. In 2017, inflation closed at 2.71%, while for 2019 the official projection is 4.04 Percent.


The Central Bank of the Dominican Republic (BCRD) recorded inflation of 1.17% in 2018, slightly lower than the projection of 1.3% and the lowest of the last 34 years. The fall of more than 20% in international Petroleum I suppose that the imports from the country of Central America contributed to this performance.

Inflation was well below the lower limit established in the Monetary Program of 2018, with the objective of 4% per year, with a range of 1 percent. The GDP of Dominican Republic grew 7% in 2018 and led the economic expansion in America.

The annual rate of change of the CPI in Panama in November 2018 was 0.8% per year, two tenths lower than the previous month. The monthly variation of the CPI (Consumer Price Index) was -0.4%, which reduced the accumulated inflation in 2018.

According to the Central Reserve Bank of El Salvador, he reported that in the November and December 2018 there was deflation (-0.18% and -0.47%, respectively), which reduced inflation to all 2018 to 0.43%, down from 2.04%, which totaled 2017.

Ecuador closed 2018 with inflation of 0.27%, according to the National Institute of Statistics and Censuses of Ecuador (INEC). The Andean country has its dollarized economy since 2000: in December, the cost of the basic basket was $ 715.16, while the unified basic salary was $ 386. According to the INEC, the monthly family income of a family in 2018 was US $ 720.53, about 27,380 Argentine pesos.

Stuck in a hyperinflation that spirals, Venezuela ended last year with an annual inflation of 1,698,844.2%, according to estimates by the National Assembly, with an opposition majority. You mean that what cost 1 bolívar a year ago today is worth 17,000 bolívares In 2017, the parliamentary body had reported an inflation of 2,616%.

Three years ago the Venezuelan Central Bank stopped reporting official data inflation, since there is no other way but alternative measures to estimate the advance of domestic prices in the governed country Nicolás Maduro.

The Bolivarian government appeals to the "constant monetization" of the fiscal deficit, with a GDP that collapses year after year, despite having the largest proven reserves of oil in the world, and this caused a dramatic Exodus of about 4,000,000 Venezuelansmainly to countries in the region, such as Colombia, Argentina, Ecuador and Peru.


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