NEWS

World Bank — Inflation Slowing In Latin America, Caribbean

The World Bank says inflation in Latin America and the Caribbean continues to slow.

Chief Economist in charge of the region at the World Bank, William Maloney, says the downward trend in prices is due to a number of factors. 

“Global value chains are now normalized, so the prices of all those goods we couldn’t get for a year have come down. Food and fuel prices have stabilized after the initial shock arising from the Russian invasion of Ukraine. Regional central banks have acted in general early and very convincingly, and they’ve managed to maintain expectations of inflation well anchored in the region, so people are not expecting a lot more inflation,” Mr. Maloney explained. 

However, he said more work needs to be done to tackle core inflation, which excludes the volatile cost of food and energy.

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Readers Bureau, Contributor

 Edited by Jesus Chan

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