How Is Latin America Handling the Inflation Crisis?
From raising central bank rates to subsidizing gas costs, the region is fighting to contain price hikes that hit the poorest hardest.
Locals struggling with a spiraling cost of living clashed with tourists in Cusco, Peru last month. Tens of thousands of Argentines took to the Plaza de Mayo on May 12 to demand higher wages as chronically high inflation rose even higher. Even workers at Brazil’s central bank went on strike in early May as inflation has eroded the value of their salaries. The region—like the rest of the world—is dealing with the effects of twin shocks from the pandemic and the war in Ukraine on energy and commodity markets. The fact that many countries in the region are energy producers and...
Read this article on the Americas Quarterly website. | Subscribe to AQ.
