Whereas Argentina and Venezuela grapple with skyrocketing inflation, considerably eroding residents’ incomes, most Latin American nations are witnessing a worth deceleration post-pandemic.

The area’s two dominant economies, Brazil and Mexico, have been regularly curbing these widespread worth hikes, aligning extra carefully with their central banks’ targets.

Surprisingly, Costa Rica stands out on this area, not only for its low shopper worth index however for registering the second-highest deflation globally at 2.29% in July 2023.

This comes after a pointy spike in inflation in 2022 when Costa Rica’s shopper worth index soared to 12.13% in August.

Solely Afghanistan outpaces Costa Rica in deflation, registering at 2.8%.

Among the many world’s main economies, China, the world’s second-largest, has been dealing with year-on-year deflation, concluding July at -0.3%.

Key Inflation Stats from Latin America’s Main Economies:

Brazil: Concluded July with an annual inflation charge of three.99%, a slight improve from June’s 3.16%.

Regardless of this, Brazil’s pattern has largely been deflationary, with a minor setback in July.

Mexico: The annual inflation charge settled at 4.79% in July, down from June’s 5.06%.

Venezuela continues to have the world’s highest annual inflation, although it dipped to 398.2% in July, a 6.2% lower from June.

Argentina ranks third globally with its shopper worth index at 113.4% in July. Latest forex devaluation forecasts point out potential inflation surges.

Different Latin American Inflation Figures as of July 2023:

Bolivia: 2.7%
Chile: 6.5%
Colombia: 11.78%
Ecuador: 2.07%
El Salvador: 3.34%
Guatemala: 4.53%
Honduras: 5.15%
Nicaragua: 8.17%
Panama: 0.58%
Paraguay: 3.5%
Peru: 5.88%
Uruguay: 4.79%