“No way! You can’t give the bank anything”says Lisandra Pupo, a 30-year-old mechanical engineer who is skeptical about the bankarization of the economic operations announced by the Cuban Central Bankwhich tries to reduce the number of banknotes that circulate on the street. The new regulations, which entered into force last Thursday, will oblige both citizens […]
Tag: Inflation
BCRP: average real income is 7% below the pre-pandemic level
During the second quarter of this year, the average monthly income from work in the main activity in Metropolitan Lima was S/1,925, which meant a nominal increase of 13.1% compared to 2019, when it was S/1,702. However, in real terms —that is, adjusted for inflation— it is still 7% below below pre-pandemic levelaccording to the […]
Russia puts world food security at risk by refusing to renew agreement
When Russia invaded Ukraine in February 2022, it blocked Ukraine’s Black Sea ports, but an agreement with Turkey and the United Nations (UN) in July allowed grain shipments to continue to flow. A year later, the Russians have set certain conditions to renew this deal. Authorities from Ukraine, which is one of the largest exporters […]
BCRP: July inflation would be higher than previous months
After the monthly inflation rate had been falling in recent months, to such an extent that last June a variation of -0.15% was registered, a change in trend is expected for July, reaching a higher figure to that of previous months. Adrián Armas, central manager of Economic Studies of the Central Reserve Bank of Peru […]
Economic problems in Argentina awaken “supermarket tourism”
Uruguayans are crossing the border into Argentina to buy food and cheap fuel, as distortions between the two economies encourage residents of Uruguay to take advantage of the most favorable prices in the neighboring country. The manager of a Uruguayan supermarket said sales were falling rapidly as her Uruguayan customers increasingly make day trips to […]
“There is no control”, say Argentines who fight against inflation above 100%
before a inflation that this year could exceed 140%, the Argentines they look for the best price when buying essential goods to protect their income and make ends meet. “I feel that there is no control, that no one controls the prices and that everyone puts the price they want and perhaps managing the same […]
Government of Chile slightly lowers its growth forecast for 2023
The government of Chili lowered this Wednesday by one tenth its growth forecast for the economy for 2023 up to 0.2% and forecast that average inflation will reach 7.8% year-on-year amid the adjustment of local activity after the rapid post-pandemic recovery. By 2024, the Executive expects an increase in gross domestic product (GDP) of 2.5%while […]
Dollar collapses to its lowest level in almost 3 years: S/3.5820
He dollar it closed at its lowest level in almost three years this Wednesday, July 12, 2023 and was placed at S/3.5820. This low price has not been seen since November 2020, according to the Central Reserve Bank of Peru (BCRP). During the day, the US currency depreciated 1.10% compared to S/3.6220 at the close […]
Argentina inaugurates key gas pipeline to face economic crisis
The government of Argentina opens on Sunday the first section of the Nestor Kirchner pipeline (GNK), to transport the fluid from the reservoir of gas and oil unconventional of Dead cow (south) to the province of Buenos Aires (center), through 573 km. The opening will take place at 3:00 p.m. (6:00 p.m. GMT) in a […]
Lima climbs 5 places in the ranking of the most expensive cities worldwide
Each year, various socioeconomic factors increase the living costs for international employees in the most emblematic cities of the world. Lima, despite the situation, has managed to maintain a stable position regarding the rise in food prices and its impact on quality of life, for this reason this year it rose 5 steps compared to […]