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Latin America burdened by inflation

Latin America burdened by inflation

Brussels, Nov 18 (Prensa Latina) The latest expectation report by FocusEconomics stated that inflation in Latin American countries would register figures higher than the world average in 2023.

This means a difference of approximately 8 percentage points, with 13 percent, compared to 5 percent of the average in the rest of the world.

Although the study shows that global inflation began to slow down in the third quarter of 2022, price increases will be higher in some regions like Latin America, Eastern Europe, and Sub-Saharan Africa, where they will exceed 12 percent.

FocusEconomics experts noted, among the reasons, the continuation of geopolitical conflicts, the production levels of the Organization of Petroleum Exporting Countries (OPEC)’s members, or extreme weather events.

In terms of economic growth, FocusEconomics forecast a slowdown in Latin America’s Gross Domestic Product (GDP), which will increase below the 2.2-percent average estimated globally in 2023.

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