Brazil and Chile top the LATAM inflation rankings if Venezuela and Argentina are excluded

RIO DE JANEIRO, BRAZIL – Leaving aside the cases of Venezuela and Argentina, Brazil and Chile are the countries in Latin America with the highest accumulated inflation, with data as of May 2022.

At the moment the first place is occupied by Brazil, with a consumer price index of 11.7% year-on-year.

Read also: Check out our coverage on Chile

Chile, meanwhile, occupies the second place with 11.5% of accumulated inflation from 12 months to May of this year.

Bloomberg highlighted that in the increase in the cost of living in Chile, normally a model student, was “the billions of dollars in stimulus measures”, referring to the withdrawals of the AFPs and state aid such as the IFE, to which were added external factors that pushed up the price of basic products.

Paraguay is in third place, the publication specified, with 11.4%; followed by Nicaragua (10.61%), the Dominican Republic (9.47%), and Uruguay (9.37%), and Honduras (9.09%).

In contrast, Bolivia and Ecuador show the lowest inflation levels in the region (1.41% and 3.38%, respectively).

Now, when including the cases of Venezuela and Argentina -“used” to living with skyrocketing inflation, said Bloomberg- Brazil and Chile rank third and fourth in the regional ranking.

The trans-Andean country accumulates a year-on-year inflation of 60.7%, the highest in three decades; while Venezuela -which managed to get out of hyperinflation- had an increase of 167% in May.

Venezuela came out of the hyperinflationary cycle in which it had been since 2017, by accumulating 12 continuous months below 50% inflation. Inflation ended 2021 with a rise of 686.4% and in 2020 it was 2,959.8%.

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