Latin America. The month of May brought with it high inflation rates in all Latin American countries; the price of oil and food shortages are considered as the main causes of this increase in inflation, and the subsequent slowdown of Latin economies that are already beginning to take measures to curb the upward trend in inflation, such as the reduction in public spending, however, the effects of these initiatives will not be seen immediately, and in the meantime entrepreneurs will continue to be harmed by the high costs of raw materials, below is an account of the situation in the region in this matter.In Brazil inflation rose by 0.79% compared to April, products such as rice had increases of up to 20%, while in Mexico consumer prices fell, but continue to remain above the expected level, in addition inflation increased to 4.95%, the highest level for this country since December 2004.
On the other hand, in Colombia the expected annual inflation according to the projections made is 5.92%. Peru was no stranger to the increases and had in May a rate of 0.37% double the inflation presented in April, which was 0.15%, another of the significant increases occurred in Venezuela, a country in which from 1.7% reported in April it went to 3.2% in May. The Uruguayan economy was also hit by inflation, which accelerated to 0.87%, while in Chile it reached 1.2%.
